Medigap insurance plans will cover the gaps left over after Medicare has paid their share. It pays what Medicare does not pay. Medigap is sold by individual insurance companies that must all sell the same policy. They cannot change the policy. There are certain things medigap will not cover.
Medigap is a health insurance plan that is similar to other secondary heath care plans. It is meant to cover the out of pocket cost left over after the first insurance has paid. In this case the first insurance is Medicare. Only people who carry both Medicare part A and Part B can get Medigap. It is meant to cover the costs that medicare does not pay.
Medigap insurance plans will cover such things as Medicare’s coinsurance, deductible charges, and copayment. In some cases, Medigap will cover activities not covered by the Original Medicare. Some of the other things covered are:
Medigap will not cover long-term stays in nursing homes. They will not pay for vision care or dental care. Hearing aids and eye glasses are not covered nor is a private-duty nurse. It will not pay for prescriptions or prescription co-pays.
For people who have Medicare parts A and parts B, and have a lot of out of pocket expenses due to medical expenses, then Medigap is perfect for you. Anyone who must use their Medicare often will find that carrying medigap insurance plans on themselves and their spouse will save them a lot of cash. It will pay for all those deductible and copayment s that are being charged to them. If you get ill and need an extended stay in the hospital Medigap will see to it that you are covered. Not only will they pay the deductible for Medicare but they will pick up the bill after Medicare stops paying. Medigap is definitely worthwhile to carry.