Do I Need a Medigap Plan?

Carolina Insurance partners is your local medicare insurance broker

Do I Need a Medigap Plan?

Medigap plans are also known as Medicare Supplement insurance. Medigap does not cover any health services. Instead, they cover certain leftover expenses from Medicare Part A and Part B, including deductibles, copayments, and coinsurance. 

There are ten Medigap plans available, each with varying amounts of coverage. Now, a Medigap plan may not be a good fit for everyone, but they do have their advantages because of the extra coverage for out-of-pocket costs they provide.

Why You May Need a Medigap Plan

To determine if a Medigap plan is right for you, you need to consider a few factors. These factors include:

  • Your overall health
  • Your overall budget
  • And how often you travel

Let’s first discuss your overall health. Maintaining your health is important, and having the proper coverage to cover the costs associated with your health is also an important factor. Suppose you have a chronic condition and require a lot of care and doctor visits. In that case, a Medigap plan with comprehensive coverage may be suitable for you, such as Medigap Plan G. 

If you don’t visit your doctor as frequently or require a lot of care, you could most likely opt for a basic Medigap policy, such as Plans A or B.

Your budget is also important to consider because you want to make sure that not only are the costs you need to be covered are actually covered, but you want to be able to afford the plan you need as well. An important rule of thumb to remember is that the more coverage a Medigap plan provides, the more it will cost. The costs for each Medigap policy will also vary depending on the insurance company you purchase it through. That’s why by working with our team at Carolina Insurance Partners, we will help you compare all your options and costs to find you a plan that meets your budget.

Last but not least, you need to make sure that you have a plan that will keep you covered even when you travel. Fortunately, all Medigap plans will provide you coverage anywhere in the U.S. as long as the hospital or facility you visit accepts Medicare. If you are looking to receive some coverage while traveling outside of the U.S., only six Medigap plans will provide this: Plans C, D, F, G, M, and N. These specific plans will only cover up to 80% of foreign travel emergency care.

We’re Here to Help. Call Us Today to Learn More!

As you can see, Medigap plans do have their advantages when it comes to coverage, costs, and availability, but we understand if you’re still not sure if one is right for you. That’s why at Carolina Insurance Partners, we don’t want to leave you in the dark about the Medicare coverage options available to you.

Give us a call today, and we can schedule an appointment to discuss and compare all of your options!

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