Medigap

1. You must have Medicare Part A and B to be eligible for Medigap coverage.
2. Medigap policies supplement your Original Medicare benefits, as opposed to Medicare Advantage Plans (Part C), which provide Medicare benefits directly.
3. You need to pay a monthly premium for your Medigap policy to the private insurance company and the monthly Part B premium paid to Medicare.
4. Medigap policies are designed to cover one person only. If you and your spouse want Medigap coverage, you must purchase separate policies.
5. You can purchase a Medigap policy from any insurance company in your state that is licensed to sell them.
6. Once you have a Medigap policy, it is guaranteed renewable, regardless of your health condition. If you continue to pay the premium, the insurance company cannot cancel your coverage.

1. Comprehensive Coverage: Medigap policies help fill the gaps in your Original Medicare coverage, reducing out-of-pocket expenses for copayments, coinsurance, and deductibles.
2. Freedom to Choose Providers: With Medigap, you can visit any healthcare provider or hospital that accepts Medicare patients, allowing you to choose the healthcare services you need.
3. Nationwide Coverage: Medigap coverage is not restricted to a specific network or geographic area. It provides coverage anywhere in the United States, which can be beneficial if you travel frequently or reside in different states yearly.
4. Stable Coverage: Once you purchase a Medigap policy, it is guaranteed renewable, providing you with long-term coverage and peace of mind.

1. Cost: Medigap policies come with monthly premiums, which may vary depending on the coverage and insurance company. It's essential to compare different plans and prices to find the best fit for your budget.
2. Coverage Options: There are ten standardized Medigap plans labeled with letters (A, B, C, D, F, G, K, L, M, and N), each offering different coverage levels. Understanding the benefits provided by each plan will help you choose the most suitable option.
3. Enrollment Period: The best time to enroll in a Medigap policy is during the Medigap Open Enrollment Period, which starts the month you turn 65 and are enrolled in Medicare Part B. During this period, you have guaranteed issue rights, meaning insurance companies cannot deny you coverage or charge higher premiums based on your health condition.
4. Prescription Drug Coverage: Medigap policies sold after January 1, 2006, do not include prescription drug coverage. If you need prescription drug coverage, consider enrolling in a separate Medicare Prescription Drug Plan (Part D).

1. Enhanced Coverage: Medigap policies provide additional coverage, reducing out-of-pocket costs and offering greater financial protection.
2. Flexibility: With Medigap, you have the freedom to choose any healthcare provider or hospital that accepts Medicare patients, giving you more control over your healthcare decisions.
3. Nationwide Coverage: Medigap policies provide coverage across the United States, allowing you to receive medical care while traveling or residing in different states.
4. Guaranteed Renewable: Once you have a Medigap policy, it cannot be canceled by the insurance company as long as you pay the premium, ensuring continued coverage even if your health condition changes.

Contact Chambliss Premier Insurance today to learn more about Medigap and start exploring your coverage options.