Watch for these 3 Medigap shopping surprises to avoid overpaying
Medicare Supplement Insurance, or Medigap, can help pay for Medicare Part A and/or Part B copays, coinsurance and deductibles, but shopping for plans isn’t always straightforward
Medicare beneficiaries can buy Medicare Supplement Insurance, or Medigap, to help cover certain out-of-pocket costs associated with Medicare Part A and/or Part B. (If you’re shopping during open enrollment, Oct. 15 to Dec. 7, remember that people with Medicare Advantage can’t buy Medigap plans.)
For example, depending on which plan type you choose, a Medigap policy could cover the 20% Medicare Part B coinsurance for office visits and the $1,600 deductible before Medicare Part A starts to pay for inpatient hospital care.
Medigap policies are sold by private health insurance companies. They’re regulated by the federal government and have certain standard benefits. But shopping for them isn’t always straightforward.
Shoppers might expect higher prices to come with more benefits, but that’s not always the case. Here are three scenarios to watch for so you don’t end up paying too much.
