Medigap (Medicare Supplement Insurance)
Medicare Supplement Insurance, often called Medigap Insurance, are insurance policies meant to add to Original Medicare coverage. Original Medicare was not designed to pay for all health care costs. There are many gaps in coverage, such as coinsurance and deductibles. A possible choice to fill in those gaps is Medicare Supplement/Medigap Insurance.
A person with Original Medicare who buys a Medigap policy will have Medicare pay primary and then the Medigap policy will pay secondary for Medicare covered services. Depending on which Medigap policy (A thru N) selected you may or may not have to pay any cost sharing. Medicare Supplement/Medigap policies come in eleven different standardized plans. Please refer to the 2016 Consumer Guide to Medicare Idaho Shopper’s Guide starting on page 17 for a more detailed explanation of Medigap.
Because they are standardized, the benefits provided in any Medigap plan with the same letter will be the same, no matter what company sells you the plan. However, the cost for that plan (premium price) will vary between companies. Some plans are offered with innovative benefits. These plans are marked with an * in the rate charts and a separate chart listing the specific innovative benefits offered is also available. Companies may impose a Pre-Existing Condition Look-Back Period. These companies are indicated with an ** on the rate charts. See the list of rate charts below: NOTE: Plans and premium rates listed in the charts were filed by the company and accepted by the Idaho Department of Insurance (DOI). The DOI cannot certify the accuracy of the information and recommends consumers contact the company for the exact rates and plans offered in their area. Due to frequent changes always check with the company for the latest availability and premiums. The appearance of a company on the list does not constitute an endorsement of a company or its policies by the DOI, SHIBA, or its volunteers. Please check company websites for contact information. There may be variance in rates based on purchase date.