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Supplemental Insurance policies, also known as Medigap policies, are used by insurance companies to provide coverage to their customers in between Original Medicare Plan coverage. These supplemental insurance policies help pay for health care costs that are not covered by the Original Medicare Plan. If you are enrolled in an Original Medicare Plan and have a supplemental insurance plan, both plans will pay their shares of covered health insurance. One of the biggest downfalls of a supplemental insurance policy is that it will not cover any health care costs for your spouse.
All insurance companies must offer Medigap policies that are similar in coverage to each other so customers can research plans and pick the one they feel is best for them. It is possible that you might be able to choose from 12 different Medigap plans for medicare open enrollment. The 12 plans are known as Medigap plans A through L. These policies have to follow state and federal laws for them to be legal. These plans must also be clearly labeled on the front as 'Medicare Supplement Insurance.'
All 12 plans have varying sets of basic and extra benefits. The cost of Medigap plans will vary, which is why you should research and review all 12 plans before making a choice as to which one you will purchase. Your insurance company might not offer all 12 Medigap plans, which is why you should ask your insurance company which plans they offer and if they could send you information.
You can only acquire a Medigap plan if you have a Medicare Part A and Part B plan. You will also have to pay a premium for the Part B plan and the Medigap plan.