Medicare Health Plans and Medicare Prescription Drug Coverage
Medigap or Medicare Supplements
A Medigap policy is health insurance sold by private insurance companies to fill the “gaps” in Original Medicare Plan coverage. Medigap policies help pay some of the health care costs that the Original Medicare Plan doesn’t cover. If you are in the Original Medicare Plan and have a Medigap policy, then Medicare and your Medigap policy will pay both their shares of covered health care costs.
Generally, when you buy a Medigap policy you must have Medicare Part A and Part B. You will have to pay the monthly Medicare Part B premium. In addition, you will have to pay a premium to the Medigap insurance company.
You and your spouse must each buy separate Medigap policies. Your Medigap policy won’t cover any health care costs for your spouse.
Medicare Part D - Medicare Prescription Drug Benefit
Medicare offers prescription drug covereage to everyone with Medicare. You may be subject to a late enrollment penalty if you do not join a prescription drug plan. You can get a prescription drug plan through insurance companies or other companies approved by Medicare.
It is important that you review your drug plan every year to make sure you are the best plan based on your needs. Here at the Longtin Agency we are here to assist you with your yearly review and as always our services are free of charge.