Compare Medigap Carriers

Medigap is an additional or supplemental medical insurance policy for people currently receiving the bulk of their medical benefits through Medicare. Even though Medicare is comprehensive medical coverage, it does not pay all out-of-pocket or incurred medical expenses. Adding a Medigap plan to your insurance coverage helps to offset additional medical expenses not routinely covered by traditional Medicare coverage. More than one carrier offers Medigap plans, and choosing the right provider takes a little legwork.

Instructions

• 1

  Make a list of Medigap providers that service your area. List the monthly plan fees beside each company name. List the plan name and policy price for each plan offered by each carrier.

• 2

  Write down each carrier's benefit for skilled nursing care and at-home recovery. Note the out-of-pocket, deductible and maximum-allowance amounts listed by each carrier for each Medigap plan.

• 3

  Record each carrier's list of basic coverages. Learn the difference between the different levels of basic benefits available by plan level. Medigap Plans A through G offer one set of standard benefits while Plans K, L, M and N offer different degrees of basic coverages. Use cost estimates for monthly premium amounts to determine the plan that best suits your individual medical needs and financial situation.

• 4

  Note Medicare Plan A and Medicare Plan B deductibles by carrier. Understand that Plan A covers hospital stays and services, including hospice, nursing homes and in-home care while Plan B provides coverage consisting of doctor visits, specialist care, lab work and medical services not provided during a hospital visit or stay.

• 5

  List which carrier offers foreign travel emergency coverage. Do this if you travel often or are planning on traveling outside of the United States in the future.

• 6

  Compare all Medigap plans and determine which plan best fits your lifestyle. Choose the Medigap plan type first and then select the carrier based on which carriers offer the plan you need.