Compare Medicare Supplements
Medicare Supplements (Medigap) policies are standardized.
Every Medigap policy must follow federal and state laws designed to protect you, and it must be clearly identified as “Medicare Supplement Insurance.” Insurance companies can only sell you a “standardized” policy identified in New Hampshire and Maine by letters, A – N. (See Chart Below)
All policies offer the same basic benefits but some offer additional benefits, so you can choose which one meets your needs. Each insurance company decides which Medigap policies it wants to offer and the insurance companies don’t have to offer every Medigap plan. So first choos the plan that’s right for you and then find out which companies offer that plan.
Note: The Medigap policy covers coinsurance only after you’ve paid the deductible (unless the Medigap policy also pays the deductible).
* Plan F is also offered as a high-deductible plan by some insurance companies in some states. If you choose this option, this means you must pay for Medicare-covered costs (coinsurance, copayments, deductibles) up to the deductible amount of $2,180 in 2015 before your policy pays anything.
** For Plans K and L, after you meet your out-of-pocket yearly limit and your yearly Part B deductible ($147 in 2015), the Medigap plan pays 100% of covered services for the rest of the calendar year.
*** Plan N pays 100% of the Part B coinsurance, except for a copayment of up to $20 for some office visits and up to a $50 copayment for emergency room visits that don’t result in an inpatient admission.
Shop Around for the Best Medigap Policy
Look for a Medigap policy that you can afford and that gives you the coverage you need most. As you shop for a Medigap policy, keep in mind different insurance companies may charge different amounts for exactly the same Medigap policy, and not all insurance companies offer all of the Medigap policies.
Watch Out for Illegal Insurance Practices
You should know it is illegal for anyone to pressure you into buying a Medigap policy, lie or mislead you to switch to another company or sell you a second Medigap policy when they know that you already have one. It is also illegal to sell you a policy that cannot be sold in your state. Work with someone local that has a good reputation and who you can trust.
Would you like my help?
If you would like to talk to me, ask a question or schedule a meeting at your home or a nearby meeting place, you can call me directly at 207-370-0143 or use my simple form on the CONTACT page of this site to send an email message. The best part about working with me is that it will not cost you anything to talk with me to discuss your options and review the plans that are available. I am paid by the insurance companies in the form of a commission when you enroll in a plan. You will not pay any more than anyone else and you are under no obligation whatsoever to enroll in any plans if you talk with me.
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