Medicare Supplemental Insurance (Medigap)

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Sold by private companies, a Medicare Supplement Insurance (Medigap) policy can help pay some of the health care costs that Original Medicare doesn’t cover, such as co-payments, coinsurance, and deductibles.

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Medigap policies don’t cover long-term care, dental care, vision care, hearing aids, eyeglasses, and private-duty nursing. Most plans do not cover prescription drugs.

If you are going to buy a Medigap plan, the open enrollment period is six months from the first day of the month of your 65th birthday — as long as you are also signed up for Medicare Part B — or within six months of signing up for Medicare Part B. During this time, you can buy any Medigap policy at the same price a person in good health pays. If you try to buy a Medigap policy outside this window, there is no guarantee that you’ll be able to get coverage. If you do get covered, your rates might be higher. For a Medigap plan, you pay a monthly premium to the insurance company in addition to your Medicare Part B premium. The cost of your Medigap policy depends on the type of plan you buy, the insurance company, your location, and your age. A standardized Medigap policy is guaranteed renewable, if you pay your premiums on time.

What does it cost? How do I get it?
Insurance companies set their own prices and rules about eligibility, so shop around!

Find a Medigap Policy in Your Area

Look at some of these plans, and see if they justify the expense. For instance, this one:

Medigap Policy A
Monthly Premium: $80 – $275 Estimated Annual Cost: $8,350.00

That is a LOT of money for a retiree on a fixed income and here is what it covers

There is some good stuff in there, especially the Medicare Part A Hospital Coinsurance/Deductible section; this could make a huge difference.

Just remember that these plans cost in addition to what you already pay for Medicare A & B, so this could get expensive. But some of the coverage looks worthwhile, so this is something to consider.

These are not the same thing as Medicare Advantage plans. I will look at those tomorrow.

There is more information here and I suggest you visit these links for more in depth dope :