Are you looking for a Medicare Supplement Plan?
If you have Original Medicare, a Medicare Supplement plan can help fill in some of the gaps of Original Medicare. According to Mediare.gov, "A Medicare Supplement insurance (Medigap or Med Supp) policy helps pay some of the health care costs that Original Medicare doesn't cover, like: Copayments; Coinsurance; Deductibles."1 If you're interested in buying one, you might be wondering where to look.
Are Medicare Supplement Plans Available Through the Health Insurance Marketplace?
No. Medicare Supplement insurance is available only to people on Medicare. The Health Insurance Marketplace, available at HealthCare.gov for most states, helps people who are not on Medicare shop for health insurance. However, according to HealthCare.gov, "Medicare isn't part of the Health Insurance Marketplace," and "the Marketplace doesn't offer Medicare supplement (Medigap) insurance."2
So what are your options when looking for a Medicare Supplement Plan?
Where to Find a Medicare Supplement Plan
Medicare Supplement Plans are offered through private insurance companies. However, despite there being a variety of providers, all plans of the same letter are standardized so benefits remain the same.
You have many different insurance companies to choose from, as well as an assortment of Medicare Supplement plans to best fit your needs. Plus, plans are standardized across companies, so you won't have to worry that a certain plan from one company will provide different benefits than that same plan from another company.
The best place to start your search for a Medicare Supplement plan is online. Research each plan and each company you're interested in to make sure the plan's benefits and the company are the right options for you. Most state Insurance Departments have a consumer Medicare Supplement or Medigap guide online where you can compare plans and premiums. If you have any questions about a Medicare Supplement plan, contact a licensed insurance agent.
Your style is your choice. Shouldn't your doctor and your coverage be, too?
Learn more about Medicare Supplement insurance options.
1 Medicare.gov, What's Medicare Supplement Insurance (Medigap)?, 2019
2 HealthCare.gov, Medicare and the Marketplace, 2019, 2019