Health Insurance Articles
What Is Medigap Health Insurance
2010-01-04
Many individuals who receive Medicare benefits will soon discover that not all health care costs are covered by their policy. While Medicare does cover a wide range of medical and health expenses for policyholders, there are some costs left to the beneficiary to pay for out of pocket. For some, these expenses may prove overwhelming and may even lead to eventual financial ruin. This is where a supplemental health insurance plan can prove to be an invaluable source of adequate health care coverage. Medigap Plans A through L were created with this specific need in mind.
Medigap Plans are supplemental health coverage plans created in an effort to fill the gaps left behind by Medicare. Medicare recipients often find themselves financially burdened with health care costs not covered by Medicare Parts A and B, or find themselves only covered in part. Medigap health insurance plans are available to individuals receiving Medicare benefits in 12 standardized plans offered by private health insurance companies throughout the United States. They are not offered in the states of Massachusetts, Minnesota and Wisconsin. These three states offer their own supplemental health coverage plans to Medicare beneficiaries. The 12 standard Medigap plans available to those receiving Medicare benefits are labeled as plans A through L. The health insurance rate for each plan will vary depending upon the individual plan purchased.
To be eligible to receive a Medigap policy, one must also be enrolled in both Medicare parts A and B. Guaranteed issue of a Medigap plan can be acquired if enrollment in the plan occurs during the open enrollment period. This open enrollment period includes the six months after the individual has enrolled in Medicare part B, or the six months after the individual's 65th birthday. During this time frame, a Medicare recipient can enroll in a Medigap plan without a medical screening.
By enrolling in one or more of the available standardized Medigap plans offered by private health insurance companies, an individual receiving benefits from both Medicare Parts A and B can have peace of mind in knowing that the gaps left behind by Medicare will not place a financial burden on them in the future. Many Medicare recipients will receive health care at a medical facility believing that their Medicare Plan will cover the costs. Unfortunately, this is not always the case. While Medicare Parts A and B will cover a majority of costs associated with health care, there are still numerous gaps left behind for the recipient to cover.
By being enrolled in a Medigap Plan, the individual also enrolled in Medicare can be sure that they will get affordable health care wherever they go.
