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Watch for these 3 Medigap shopping surprises to avoid overpaying
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FILE - Pharmaceuticals are seen in North Andover, Mass., on June 15, 2018. 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. Shoppers should know that because Medigap plans are standardized by the federal government, plans with the same letter name offer the same Medicare benefits, regardless of company or price. In some cases, a lower-coverage plan isn’t necessarily cheaper — there may be higher-coverage options available for lower premiums. - photo by AP Photo/Elise Amendola, file
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.