Medigap and Medicare Supplemental Insurance – Are They the Same Thing?

Medigap is synonymous with Medicare Supplemental Insurance.  The term refers to the exact same thing; insurance that is purchased in addition to the Original Medicare Part A and Part B.   When you first become eligible for Medicare you should be excited and relieved that you will have some credible health insurance that will not break the bank.  Medicare however is not free and a share of the cost for Medicare is up to you.

To help control some of the extra expenses, Medicare offers supplemental insurance to help offset those costs.  Medicare Supplemental Insurance, Medigap, ensures that the gaps left by Medicare Part A and Part B are covered.

Medigap, Medicare Supplemental Insurance, us named so because it is purchased to fill in some of the gaps left in Original Medicare.  Some initial confusion comes as a result of not knowing what gaps are covered and which ones are not.  The gaps filled are not gaps in covered services but rather expenses that are the participant’s responsibility. These policies pay a share of the expenses left by Original Medicare.

It is also important to note that the Medicare Advantage Plan is not Medicare Supplemental Insurance Plan.  They are two very distinct types of plans.

Medicare Supplemental Insurance Facts
It is crucial to understand how Medicare Supplemental Insurance works.  It is the first step in determining what Medicare Supplemental Plan is right for you.  Become familiar with the facts below before you shop as it will help you compare the Medicare Supplemental Insurance Plans that are available.
  • There are ten standard Medicare Supplemental Insurance Plans to choose from
  • In Tennessee the best time to purchase Medicare Supplemental Insurance Plans is during open enrollment
  • If you have “guaranteed issue rights” then medical underwriting is not used
  • Medical underwriting does however apply at other times
  • Participants are not subject to an annual enrollment period
  • Medicare Plan D is not included within other Medicare Supplemental Insurance Plans
  • Medicare Supplemental Insurance Plan premiums can vary widely between companies for the exact same plan
  • Enrollees cannot have their insurance canceled for any other reason than non payment
Medicare Supplemental plans are standardized which allows you to choose a policy that fits your medical needs as well as your budget.  The expenses that are covered by the plan will determine the premium.   If participants enroll outside of open enrollment and do not have guaranteed issue rights there are many other outside factors that may influence your premium.  These factors may include: where you live, your age, gender, use of tobacco products and overall health.

The best time to purchase Medicare Supplemental Insurance in Tennessee is during your open enrollment period which begins when you are first eligible for Medicare and six months after.  This is the time in which private insurance companies cannot deny you coverage, make you wait for coverage, or charge you more because of a pre-existing condition.

Learn more about Tennessee Medicare Supplemental Insurance rates, plans, and more at  Our Tennessee Medicare Supplemental Insurance brokers will help you compare Medicare Supplemental Insurance rates and plans in Tennessee.  To talk to an expert in Tennessee Medicare coverage toll free 888.404.5049 today!


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