13 March 5 Things to Know About Medigap Policies March 13, 2017 By Editor Medicare Supplement medicare, medicare supplement, medigap, seniors 0 1. You must have Medicare Part A and Part B before enrolling in a Medigap (or Medicare Supplement) plan. 2. If you have a Medicare Advantage Plan and want to move to a Medigap Plan, make sure to leave your Advantage plan before your Medigap coverage begins. 3. A Medigap Policy only covers one person. 4. In addition to paying your Part B premium every month, you will also pay a monthly premium for your Medigap Plan. 5. As long as you pay your premium, an insurance company cannot cancel your policy no matter what health problems you may have. It is guaranteed renewable. See ManhattanLife's Medicare Supplement for plan information. Related Posts 10 Things You May Not Know About The Statue of Liberty The statue of liberty was very short on funds during much of its construction. A sculptor named Frederic Auguste Bartholdi was commissioned to design the statue in France. When it was sent to the United States, the pedestal it was supposed to rest on was not completed. A Few Myths about Medicare Supplement, or Medigap Myth: You can only switch plans during open enrollment. Fact:The truth is a Medicare Supplement beneficiary can change their coverage at any point throughout the year. There are certain periods, however, that allow you to avoid answering medical questions that could keep you from getting a Medigap plan. Medicare Supplement Plans (Medigap) Chart 2018 A quick look at the 2018 Medicare Supplement Plan (Medigap) benefits How Much Can a Medigap Plan Save You When Medical Bills Stack Up? We Did the Math. A Medicare Supplement plan, also called a Medigap plan, is designed to cover the healthcare costs that Medicare won't. In order to show how important a Medigap plan can be in protecting you from out-of-pocket costs, we calculated how much money a Medigap plan would save you in the event of an unlikely, yet completely possible, serious medical issue. 9 Illegal Medigap Practices to Look Out For Contact the Inspector General’s hotline if you experience any of the following illegal Medigap practices. What are the Advantages of choosing a Medigap policy over a Medicare Advantage policy? If you are already enrolled in Medicare Part A and Part B you will have a choice between a Medicare Supplement (aka Medigap) plan or a Medicare Advantage plan. Comments are closed.