Medigap supplement insurance is designed to supplement original Medicare coverage between Plan A and Plan B of a Medicare Insurance Policy, such as co-payments, deductibles and co-insurance. Medigap policies usually do not provide coverage for dental care, eye care, hearing aids or private nursing and a Medigap plan can help pay for those medical expenses. To be eligible to purchase Medigap, you must already have a Medicare Plan A and B policy.
Medicare Plan F is the most comprehensive Medigap plan available and covers most medical care needed, however, as there may be deductibles, be sure to familiarize yourself with the plan so that you understand what is covered and what will not be covered under with this Supplement plan. Generally, Medigap Plan F will cover expenses not covered by your original Medicare Plan B policy.
When you sign the insurance contract after purchasing Medigap Plan F, you agree that the Medigap Insurance Company will obtain your Part B claims information directly from the Medicare Insurance Company, and then pay the its share of medical costs directly to the medical provider. Some Medigap Insurance Companies will also do this for Part A claims, which cover hospitalization.
Medigap Plan F will supplement claims under Part A of your original Medicare Insurance Policy, including 365 days of in-hospital care, as well as private nursing care and hospice care. It also provides an option to cover medical expenses while travelling abroad, including emergency medical costs. Your Medicare Plan A will cover the Medicare approved amount and your Medigap Insurance Company will pay the balance.
Another Medigap option is a high-deductible version of Plan F which is an amount that you agree to pay before the Medigap Plan F policy kicks in. Talk to your insurance agent who will explain all the benefits and what is required from you when your purchase Medigap Plan F Insurance coverage.