What You Need to Know About Medicare Supplement Policies (Medigaps)
Medicare supplement policies are meant to “supplement” original Medicare Part A and B policies, to include any missing services or supplies. At Brindle Insurance Group, we specialize in Utah Medicare supplement plans. Medicare supplement policies are sold by approved, private insurance companies that can also cover the costs that original Medicare does not, such as copayments, coinsurance, and deductibles. In most U.S. states, including Utah, insurance companies are only allowed to sell “standardized” policies, identified by letters ‘A’ through ‘N’. All policies offer the same basic benefits, but include various additional benefits. It is important to remember that you must have original Medicare Parts A and B in order to purchase a supplemental policy. You will pay separate monthly premiums—one to the private insurance company for your supplement and one to the federal government for your original Medicare policy. Also, a supplemental policy only covers one individual, so spouses will need to purchase individual policies. If you are in a Medicare Advantage Plan (Medicare Part C) then you may want to drop any Medigap policies you have. By law, the two policies cannot be used in conjunction, so you would be wasting your money on a supplemental policy. You can switch back to original Medicare and a Medigap policy if you do not like the Medicare Advantage Plan and choose to cancel it. For more information about Medicare supplement policies or Utah Medicare Advantage plans, click here or call Brindle Insurance Group at (800) 603-5099 to speak to a knowledgeable representative.