If you’re considering enrolling in Medigap, you may be wondering what coverage it includes and the ways it can be used. Let’s go over some Medigap details to help you decide if enrolling in this type of policy is the right decision.
More on Medigap
Medigap is supplemental insurance intended to lessen the costs of Medicare. While Medicare is intended to lower medical expenses and make medical assistance accessible, it does come with its own costs. Medicare has deductibles, coinsurance, and premiums that must be paid in order to keep receiving its benefits. Understanding this is important when enrolling in Medicare.
Medigap does not provide health insurance. Instead, Medigap covers some, or all, of the costs that the beneficiary is responsible to pay out-of-pocket when enrolled in Medicare. Medigap will not give you any more benefits than your Medicare plan does. In fact, your Medicare and Medigap policies will work closely to ensure that you’re paying the lowest sum possible.
More on Original Medicare
There are two main types of Medicare policies. Original Medicare consists of Parts A and B, while Advantage Medicare is made up of Part C. Original Medicare plans are what many are automatically enrolled in. They do not provide flexibility and the list of benefits included is clearly laid out. Part C, however, does allow the beneficiary to choose the areas of coverage they would like to be included in their policy. Those who choose this option appreciate the freedom and control they have over their health insurance.
Medigap policies are only available to those enrolled in Original Medicare. Advantage Medicare enrollees do not have the option to enroll in Medigap and will need to cover their expenses out-of-pocket.
Need Dental, Vision, and Hearing? Switch to an Advantage Plan
Dental, vision, and hearing coverage is included within Advantage Medicare, but not by Original Medicare. This means that those who are enrolled in Original Medicare can also enroll in a Medigap policy, but their coverage will not include provisions for dental, vision, or hearing needs. Medigap plans do not provide coverage for dental, vision, or hearing because they’re not included within Original Medicare. If you wish to enroll in a policy that will include dental, vision, or hearing coverage, you’ll need to make the switch to a Medicare Advantage plan. This will give you the opportunity to customize your coverage and include the areas that you wish.