Maggie continues her quest to learn more about healthcare at age 65 and beyond. In Part 2 of our blog series, she discovers the myriad of details that make up this supplemental insurance.
Along with Medicare, Medicare Supplement or Medigap can give assist in providing more thorough health insurance. Join Maggie as she embarks on a five-part journey to better understand just how beneficial Medicare Supplement coverage can be.
If you return to Original Medicare during the Annual Election Period (October 15th – December 7th), you could be eligible for a Medicare Supplement plan. Know your options.
On July 30th, 1965, President Lyndon B. Johnson signed the bill that would lead to the implementation of Medicare and Medicaid. Back then, the program included Medicare Part A, hospital insurance, and Medicare Part B, medical insurance. Today, Parts A and B are called “Original Medicare”, and continue to help Americans with their healthcare costs.
Plan G offers comprehensive coverage for costs Medicare does not cover. It is identical to Plan F aside from one difference: Plan G policyholders must pay the Medicare Part B deductible.
The history of Medicare Supplement, or Medigap, plans goes back to the 1980’s. In order to strengthen consumer protection, the government created a voluntary program that would allow Medicare recipients to gain coverage for gaps in Medicare.
When Medicare is used with other health insurance, each type of coverage is called a “payer”. With more than one “payer”, we refer to a rule called the “coordination of benefits” to determine which one pays first, also known as the “primary payer”.