Medicare Supplement Plans
Helping North and South Carolina understand the ins and outs of medicare
What Is Medicare Supplemental Insurance?
Medicare supplemental insurance is often referred to as Medigap, so don’t worry if you hear or see the names mentioned interchangeably—they’re the same thing. Medigap policies are sold by private insurers, though the plans themselves are federally regulated. Each plan is designed to provide extra coverage and fill in any gaps Medicare leaves behind.
How Does Medigap Work?
Original Medicare has gaps—or costs that would usually fall to you, such as deductibles, coinsurance, and co-payments. Medigap helps to cover those costs. After Medicare pays its portion of your healthcare expenses, your Medigap will then pay its share, which, depending on your policy, might be the entirety of your bill.
What Does Medigap Cover?
Medigap is made of up 10 plans: A, B, C, D, F, G, K, L, M, and N. Because the plans are federally regulated, the benefits are the same across all insurance providers. The only difference is typically the cost of the monthly premium, so shopping around for the best rate is a must. The team at Carolina Insurance Partners can help you do just that to make sure you get the best price.
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What Are the Different Medigap Plans?
Plan C covers almost all expenses that would normally fall to you, save for excess charges—a 15% surcharge on healthcare services your doctors may or may not charge.
This plan covers almost everything. The only costs you’ll still be responsible for are excess charges and your Part B deductible.