What Does Medigap Insurance Cover?
Medigap, also known as Medicare Supplement Insurance, is designed to cover some of the costs that Original Medicare (Part A and Part B) does not cover. Here are the key coverage areas:
- Copayments: Medigap plans help pay for out-of-pocket copayments associated with doctor visits and hospital stays.
- Coinsurance: These plans can cover the 20% coinsurance charge for services covered by Medicare Part B.
- Deductibles: Medigap insurance may help cover the Medicare Part A and Part B deductibles, reducing your overall expenses.
- Foreign Travel Emergency: Some Medigap plans offer coverage for emergency medical services received outside the U.S.
- Excess Charges: Medigap can protect you from excess charges for services from doctors who do not accept Medicare assignment.
It's crucial to note that Medigap policies do not cover services such as vision or dental care, hearing aids, or long-term care. Additionally, you must have both Medicare Part A and Part B to enroll in a Medigap policy. Understanding these details can help you choose a plan that best meets your healthcare needs.