*In some states, a high-deductible Plan F is offered. This plan is suitable for those individuals who feel that they will not be needing many medical services for that benefit year. With a high-deductible plan, you have significantly lower monthly premiums but you must pay all costs up to a certain deductible before the Medigap policy begins go pay. 


It is important to note that before you can buy a supplemental plan, you must be enrolled in Medicare Part A and Part B. Besides the monthly Part B premium that you pay to Medicare, you must also pay the private insurance company a monthly premium for the Medigap policy you choose. Different payment options are offered by the various insurance companies offering Medigap policies. Medigap policies are sold individually, never as a family plan. This is important to know if you are married. In a situation where you and your spouse need a Medigap policy, you each have to purchase your own policy. Compare the cost of the plan you need with different insurance companies since the costs can vary. As you age, plan costs increase. On a positive note, it is good to know that Medigap premium prices have limits in certain states.


Medigap policies can be purchased year-round. However, the best time to make this purchase is throughout your Medigap Open Enrollment Period. This is a six-month period which begins on the first day of the month in which you turn 65 or older and enrolled in Part B. It is important to purchase during this time because you are guaranteed coverage, regardless of your medical history/condition. After this enrollment period, coverage is not guaranteed and you may have to wait until Open Enrollment to purchase a plan. Medigap policies may have a higher cost if not purchased during your Medigap Open Enrollment Period.


If you have health coverage through your, or your spouse’s, employment and you are postponing your Part B enrollment, your Medigap Open Enrollment Period does not start until you sign up for Part B.

Medicare Supplements