“Medi-gap” is another term for a Medicare Supplement plan used because this kind of plan fills in the gaps in coverage under original Medicare. You purchase a medigap plan from a private insurer to round out your Medicare coverage. The “gaps” can include benefits related to hospitalization, skilled nursing facilities, blood, and Medicare Part B deductibles (what you pay before Medicare benefits begin).
If you are in your Medicare “open enrollment period” and have already signed up for Medicare Part A and Medicare Part B, you are guaranteed the opportunity to enroll in a Medicare Supplement plan regardless of your health or pre-existing conditions. And once you enroll you cannot be dropped unless you quit paying premiums, lied on your application, or unless the insurance company goes bankrupt (which is why it’s important to deal with a strong, reputable company!).
Unlike under-65 health insurance plans, Medicare Supplement plans are regulated by the government such that there are a series of standard plans available, labeled by letters A through L. They are identical across companies so that Plan F is Plan F regardless of who you buy it from. The most significant variable is the premium you pay for the plan.
With that in mind, we invite you to contact us if you or someone you know needs to explore Medicare options. We’ll be happy to talk with you more about the plans and give you free, no-obligation quotes from several companies. We’ll also soon be announcing our new Medicare-specific website, so stay tuned for that as well!