Private companies set the cost of Medigap premiums and other expenses. However, each policy that is labeled as Medigap is required to provide the same benefits. The plans all feature a cost range for each monthly premium.
Medigap is given a letter identification which denotes the plan. Typically, it will also refer to either a Medicare Part A deductible or Medicare Part B premium, coinsurance, and co-pays.
Depending on the Medigap plan, the cover options might include:
Companies rely on three methods to price the policies they offer:
Medigap policies were designed to fill gaps in classic Medicare coverage (Part A and Part B). There are currently 10 Medigap plans that are identified by letters. The lettered plans offer the same coverage but with additional perks.
HealthiGuide © 2020