Summary of Key Points
 Phoebe
picked up the following key points during her research on Medigap:
- Medigap policies are sold by private insurance companies
and are designed to fill the gaps in the Original Medicare Plan.
- If you are enrolled in the Original Medicare Plan,
a Medigap policy could lower your out-of-pocket costs and offer additional
health insurance benefits.
- There are 10 standardized plans (labeled A through
J) that can be sold in every state except Minnesota, Massachusetts,
and Wisconsin which have their own standard plans.
- While Medigap helps cover the costs of the coinsurance
and copayments and offers some additional benefits, it does not cover
long-term care services, vision or dental care, hearing aids, private-duty
nursing, or unlimited prescription drugs.
- Generally, to be eligible to purchase a Medigap policy, you must be
65 and enrolled in Medicare Part A and Part B. You must be enrolled
in the Original Medicare Plan (except under special circumstances),
although some state laws do allow those under 65 to purchase Medigap
policies. If you are under age 65, you may not be able to purchase a
Medigap policy.
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