If you already have a health insurance plan under Medicare, you are probably wondering if there is still a need for you to have a Medicare Supplemental Insurance Policy. Better known as Medigap, you can probably find hundreds of pages of Medicare’s website as to what it is. However, most of these texts are quite hard to understand without the help of a consultant. For better understanding, here are some of the frequently asked questions customers have before they decide to purchase Medigap.
Medicare policies can be quite confusing, especially for those that are new to the insurance enterprise. Medicare Advantage and Medicare Supplemental Insurance, or more commonly known as Medigap, are quite similar that people confuse them as the same. However, there are key differences that you must be aware of before signing either policy.
The Medicare Supplement Insurance, or Medigap, the policy is the one responsible for paying healthcare costs such as coinsurance, copayments, and deductibles. In fact, Original Medicare has no coverage for these extra healthcare costs. Here are five things you need to know about Medicare Supplement Insurance.