What is a Medicare Supplement Policy?

Medicare supplement (Medigap) insurance can help pay some of the health care costs that original Medicare does not cover, like co-payments, coinsurance, and deductibles. Original Medicare typically pays 80% of covered medical expenses and you are responsible for the additional 20%.  This is where a supplement comes into play, the supplement covers the 20% so you are not subject to any high medical bills.

Some Medicare Supplement policies also offer coverage for services that Original Medicare doesn't cover, like medical care when you travel outside the U.S. If you have Original Medicare and you buy a Medicare Supplement policy, Medicare will pay its share of the Medicare-approved amount for covered health care costs. Then your Medicare supplement insurance policy pays its share.

A Medicare Supplement policy is different from a Medicare Advantage Plan. Below are some things to consider when purchasing a Medicare Supplement Policy. ​

Important Things to Know About Medicare Supplement Coverage

  • You must have Medicare Part A and Part B
  • Medicare Supplement policies are the same with every company, the only difference is the price.  Its important to shop your Medicare Supplement with several companies or speak with an Independent Agent. 
  • You can use any doctor or provider that accepts Medicare.
  • You don't have to stay with a particular network of doctors.
  • You pay the private insurance carrier a monthly premium for your Medicare Supplement policy in addition to the monthly Part B premium that you pay to Medicare.
  • A Medicare Supplement policy covers one person. If you and your spouse both want Medicare Supplement coverage, we'll work with you to setup two separate policies.
  • When you first get Medicare you are guaranteed acceptance into a Medicare Supplement plan.
  • If you don't get a Medicare Supplement policy when you are first eligible you will have to answer some health questions to qualify for the plan. 
  • Any standardized Medicare Supplement policy is guaranteed renewable even if you have health problems. This means the insurance company can't cancel your Medicare Supplement policy as long as you pay the premium.
  • ​Premiums can increase on an annual basis. 

Contact us to learn more about the right Medicare Supplement Insurance coverage for you.

Contact Us About Medicare 
Supplement Insurance:

(863) 226-5044
2298 Lakeland Hills Blvd
Lakeland, FL 33805
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