Medicare Supplement Insurance, also known as Medigap, is a type of insurance policy designed to help fill the gaps in coverage left by Original Medicare. While Medicare Part A and Part B provide comprehensive health insurance for eligible individuals aged 65 and older, they often come with out-of-pocket costs such as deductibles, copayments, and coinsurance.
Levels of Coverage
Medicare supplement plans are offered by private insurance companies and are standardized into different lettered plans, each offering a different level of coverage. These plans are labeled with letters A through N and offer varying degrees of coverage for out-of-pocket costs not covered by Original Medicare. When you opt for a Medicare Supplement insurance plan in Phoenix, AZ, a licensed agent can help you select the right one for your needs.
Benefits
Depending on the plan chosen, Medicare Supplement Insurance may cover some or all of the deductibles associated with Medicare Part A and Part B. Medigap plans can help lower or eliminate out-of-pocket costs such as copayments and coinsurance for Medicare-covered services.
Some Medicare supplement plans provide coverage for emergency medical expenses incurred while traveling abroad, which may not be covered by Original Medicare. These are all relevant forms of coverage when you choose a Medicare Supplement insurance plan in Phoenix, AZ.
Overall, Medicare Supplement Insurance can provide valuable financial protection and peace of mind for individuals enrolled in Original Medicare by helping to offset some of the out-of-pocket costs associated with healthcare services.
