Medigap insurance plans are designed under 10 standardized letters – from A to N – in 47 states. No longer available plans include E, H, I and J. Plus, three states – Wisconsin, Minnesota and Massachusetts – have created their own Medigap-like plans.
- Medigap plans have designated letters, which note the kind of coverage it offers.
- Every state Medigap plan letter has the same coverage, but the premium cost may be different.
- Some companies could provide extra benefits.
Private insurance companies are the ones who offer Medigap, which means the availability and cost of the lettered plans can vary. Plus, not all 10 plans are offered by these companies. Some Medigap insurance plans are extensive in coverage compared to others. Some companies will offer coverage for foreign travel emergencies and substantial charges.
Eligibility and Enrollment
Enrollment in a Medigap is only possible with enrollment in both Medicare Parts A and B. You may also live in an area where the plan services.
The right time to get a Medigap insurance plan is when the Medigap Open Enrollment Period is happening. This is generally the first day of the month you signed up for Medicare Part B and turned 65, and continues for six months. Within these six months, you get guaranteed issue rights, letting you enroll in any available Medigap plan no matter what your health status is.
After the enrollment period, insurance companies could force you into medical underwriting and deny coverage if you have a pre-existing condition. A pre-existing condition is any health condition that occurs before a new policy begins. Insurance companies may not cover the condition or limit how much they cover. They may also deny you coverage altogether.
