Medicare Supplement Insurance Plans
A Medicare supplement insurance policy or also known as a Medigap insurance plan helps pay the “gap” between Original Medicare (Medicare parts A and B) and what you pay out of pocket. Medicare supplement insurance policies are offered through private insurance companies.
You must have original Medicare (both parts A and B). Depending on when you enroll there may also be eligibility questions you must answer to determine if you’re eligible to enroll.
Your open enrollment for Medigap supplemental insurance begins the first day of the month in which you turn 65 and are covered under Medicare Part B. You have six months prior to your birthday month and six months after your birthday month to enroll. In general you may enroll on a Medicare supplement insurance plan at any time of year as long as you are not enrolled on a Medicare Advantage plan. Although enrolling outside of your initial enrollment period may require you to answer underwriting questions.
No. You will need to purchase a standalone prescription drug plan. For more information on prescription drug plans please see the prescription drug plan section.