Let me start by saying that Medicare Supplements and Medigap Plans are the exact same thing. A lot of confusion happens from people thinking that these are two separate products, which they are not. With all the different products, companies, and eligibility periods going along with Medicare this is probably the easiest of all to understand. These products were standardized in 1992 and have been pretty easy to explain ever since.
A Medigap Plan fills the gaps in Original Medicare. It is that simple – these policies are supplemental medicare insurance plans to pick up deductibles, co-pays, and co-insurance that go along with original Medicare. There are numerous Medigap plans labeled by the letters A-N, but these letters do not vary between carriers. In example: a Plan F with Mutual of Omaha has the same exact coverage as a Plan F with Blue Cross Blue Shield. Now from the time you started having to learn about insurance when you were young it was never this simple, but in the Medicare Supplement world it has been simplified.
In this section of Medicare Insurance Finders we will go over the different Medigap plans, which ones are the most favorable, which policies provide you with the best coverage, and when is the best time to purchase a policy. Please click on a link below to learn more.