Medigap plans fill the gaps in Parts A and B
People new to Medicare get a lot of stuff in the mail – mostly from people who want to sell you something. And there’s a lot of stuff that you can buy…
You have the choice of signing up for a Medicare Advantage plan, also known as Medicare Part C, or a prescription drug plan, also known as Medicare Part D. But one of the things that you can buy – a Medicare supplement – isn’t a part of Medicare at all. Instead, it’s a policy sold by private insurance companies that fills in some of the holes in Original Medicare (Parts A and B).
Medicare supplements were standardized by the federal government back in 1990 to make them easier to compare. Though they’ve had a couple facelifts over time – some Medigap plans have been eliminated while others have been added – there are still 10 standardized plans (Medigap Plan A, Plan B, Plan C, Plan D, Plan F, Plan G, Plan K, Plan L, Plan M, and Plan N) that fill in some of the holes, or gaps, in Medicare. That’s why they’re called Medigap plans.
Go to page 2 to learn about the gaps —>
What is the Medicare deductible?
While this sounds like a simple question, it’s actually more complicated than a lot of people realize. That’s because there are two deductibles under Original Medicare – a Medicare Part A deductible and a Medicare Part B deductible. And the deductible amounts could vary depending on whether you sign up for a Medicare supplement or Medicare Advantage plan. Oh, and there’s also a separate deductible for Medicare Part D. Confused yet? Don’t worry – here’s a quick summary of the different deductibles under Medicare that should make it a little easier to understand.
Go to page 2 to read about the Part A deductible —>