There are two types of Medicare supplement insurance policies (also known as "Medigap" plans): Medicare supplement and Medicare SELECT. By federal law, all are standardized plans meaning Medigap plans do not vary from company to company.
All insurance carriers offering Medicare supplement insurance must have Plan A. Beyond that, they can offer any number of additional plans. Each plan has Plan A’s basic benefits plus a combination of additional benefits to help pay for costs not covered by Medicare.
Medicare Supplement Insurance
Mediare supplement insurance policies are standardized across insurance companies. Not all plans are available in all states.
There are 11 standardized Medicare supplement insurance plans (In MA, MN and WI, Medicare supplement plans are standardized in a different way). These are Plans A, B, C, D, F, high deductible Plan F, G, K, L, M and N. The plans differ in what and how much they cover. Some include benefits for the Medicare Parts A and B deductibles, others pay benefits when your bill for Medicare Part B services and supplies exceed the Medicare eligible expense. Still others pay benefits for such services, such as emergency care received outside the U.S.
See the chart for a checklist of benefits by each plan so you can compare plans (not all plans may be available in your state).
Also, keep in mind that Medicare supplement insurance policies do not cover long-term care, vision, dental, hearing, glasses or private-duty nursing.
Medicare SELECT Insurance
Some companies offer Medicare SELECT insurance. A type of Medigap insurance, this policy works the same as the Medicare supplement insurance mentioned above. The difference is that it requires you to use a network hospital, and occasionally, specific doctors to receive full benefits for the Medicare Part A hospital deductible. SELECT plans pay the Medicare Part A hospital inpatient deductible when you use a network hospital, or a non-network hospital for emergency care. Learn more about Medicare SELECT.
Other Medicare supplement Questions:
- How Do I Choose the Right Medicare Supplement Insurance Plan for Me?
- See the Plan Chart to help you determine which plan might best fit your needs
- Applying for Medicare Supplement Insurance?
- Learn about the process of applying for a Medicare supplement insurance policy
- What Happens Once I Own My Medicare Supplement Insurance Policy?
- What happens now? Generally, Medicare Supplement policies begin the first of the month after you apply. Your Medicare supplement policy is guaranteed renewable as long as the premiums are paid on time and the information is correct on your application.
