Medicare Supplement Insurance

Medicare Supplement Plans (Medigap) are designed to cover those costs of your normal medical costs which Medicare will not cover.  Medicare Supplemental Insurance is available to individuals that are enrolled in Medicare part A and B.  During the first six months after you turn 65, there is an open enrollment period for Medicare Supplemental Insurance in which you do not need to qualify.  After your six month open enrollment period, you can still sign up for a Medicare Supplement Insurance plan, but you would need to go through underwritting where you risk being turned down if not healthy enough.

Another option you have is called a Medicare Advantage plan.  These plans are designed very similar to the Medigap insurance plans except that the government helps pay the premiums.  Special conditions may apply, so check with your Medicare Supplement Insurance agent.

Since Medicare Supplement insurance plans are standardized and all insurance companies offer the same basic supplemental coverage, your best strategy is to compare Medicare Supplement rates with as many carriers as possible.