How to Choose a Medigap Policy With Medicare
Instructions
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Visit the Centers for Medicare and Medicaid Services website to determine the companies licensed to sell Medigap policies in your state. Alternatively, you can contact your local agency on aging or department of human or social services to learn this information.
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2
Contact the insurance companies directly to request information about their Medigap policies. The company may also provide the name and contact information of a licensed insurance agent in your area who can answer questions about the policies.
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3
Compare the Medigap plan types to determine which plan best meets your health-care needs. All Medigap policies are identical, regardless of the company that offers them. The only difference between companies is cost.
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Read the plan coverage options carefully. Some plans offer coinsurance for certain types of care, and the copayments and deductibles vary by plan. Ask your agent or company representative if there is a waiting period for any pre-existing conditions.
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Assess the plan coverage and cost against your budget. When you purchase Medigap insurance, you still have to pay your monthly Medicare Part B premium, so add that cost to the monthly charge for the Medigap plan to get an accurate picture of your monthly costs. Medigap plans do not cover prescription drugs, so you may need to purchase a prescription drug plan as well.
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Call the insurance company or ask your agent about any discounts that may be available. Some companies offer discounted premiums for certain groups, such as non-smokers or married individuals.
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Research the insurance company's reputation in your area. Contact the local area agency on aging or bureau of insurance to inquire about complaints against the company.
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