Choosing a Medigap Plan can be challenging. Be aware that one size does not fit all and not all plans are going to be created equal. Different personal circumstances will certainly play a part in determining what type of policy would be suitable for them.

It is always important when choosing a Medigap plan that you have your eye on the long-term benefits that that plan will provide. This is simply because switching plans can be a bit of a process and one that can only be done during open enrollment.  It is always better if you can fulfill all your needs with the original plan that you choose. When choosing a Medigap plan, there are certain things that you should know. Here, we look at nine important facts that you should know about Medigap

• The aim of Medigap is to take care of the things Medicare does not cover hence, bridging the gaps. You will pay an additional amount to get this type of policy on top of your Medicare premiums. Also, before you can purchase a supplemental policy, you must first be enrolled in Medicare Part A and Medicare Part B.
• Keep in mind that your Medigap policy does not cover your spouse. If you both need coverage, you will have to buy two separate policies. This confuses some people because traditional insurance often covers the spouse.
• Medigap policies are only available to individuals who already have Medicare Part A for free hospital services and Medicare Part B for doctor services. Each plan covers one only individual, meaning you and your spouse will have to purchase separate Medigap policies.
• Medigap has 12 standard plans, through A to L, that offer different levels of health coverage and benefits. Although different insurance companies sell these policies, they offer the same Medigap plan benefits. Not all Medigap policies may be available in your state.
• It pays to compare companies offering Medigap insurance before committing to any individual plan. This is because not all companies carry all 12 plans, so an insurance agent may be steering his or her customers towards one of the plans that company offers when a different plan might be preferable for you.
• If you intend to buy a Medigap plan, it is important to note that you must enroll within the open six-month enrollment period that starts on the first day of the month in which you turn 65 and enroll in Medigap. During this period, insurance companies cannot use medical underwriting to deny you Medigap coverage or increase premiums due to your health or apply waiting periods even if you suffer from pre-existing medical conditions. However, if you try to buy a Medigap policy after the six-month enrollment period is over, there is no guarantee that you’ll be able to get coverage. There are chances that your rates may climb substantially in case you get covered.
• For a Medigap plan, you must pay a monthly premium to the insurance company along with your Medicare Part B premium. The cost of the Medigap policy is determined as follows:
• Community-rated policies charge the same premium to everyone living in that area regardless of age.
• Premiums in Issue-age-rated policies are based on your age when you first bought the policy, however, the rate doesn’t increase automatically as you age.
• Attained-age-rated policies are inexpensive at the age of 65, but their rates increase automatically as you age.

Generally, insurance companies establish their own prices and eligibility regulations, so it is recommended to shop around for the plan.

• Medigap plans cover some of your Medicare co-payments, co-insurance for hospital stays, and some other medical services such as preventive care, at home recovery, etc., thus reducing your out of pocket costs. It is vital to consider that Medigap plans do not cover hearing aids, dental care, eye-glasses, long-term care etc. Prescription drug coverage can be obtained by enrolling in the Medicare Prescription Drug Plan, or Part D. You must decide what type of plan is best for you. In most cases, if you give up your Medigap policy, you won’t be able to get it back.
• Also, beware of anyone who tries to sell you additional Medicare supplement insurance if you already have this type of policy in place. US law states that it is an offense to try to sell additional policies of this type, as the plans offer a wide range of benefit options and if you choose the right plan, a second plan would be totally unnecessary.

When you are about to face retirement, having a basic understanding of how Medicare works can give you better health care and reduce what you spend on medical services. To be able to get a plan, you need to enroll in Medigap services.

Learn more about Medigap plans and rates at http://emedigap-plans.com.  Medigap Insurance brokers will help you compare Medigap Insurance rates and plans.  To talk to an expert in Medigap coverage call toll free 888-452-7949!