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Medigap (Medicare Supplement) Plan FAQs

Updated: Jan 22

I missed the enrollment period and didn’t change my Medigap plan, do I have to wait until the next Annual Enrollment Period? 

  • If you are already enrolled in a Medigap plan you are free to change to another plan at any time of year. Under most conditions you will be required to medically qualify by answering questions about your medical history.  If you qualify, you can change anytime.   All carriers have different qualifying questions, so check with us to help determine  your eligibility.  

How do I know how to choose a Medigap plan?  

  • Medicare has standardized all the Medigap plans that were introduced in 1992.  They are now labeled with a letter which indicates what combination of coverage is offered.  So once you determine which letter plan fits your needs it will be exactly the same coverage with all insurance companies that offer the plan.   

  • Plans F, G and N are the most common plans in most areas and some also include High Deductible plans as well.    

  • Plan F and C are no longer available to new Medicare beneficiaries, but people who turned 65 before January 1, 2020 are still eligible.   

  • Availability varies by location and certain states do not use the same standardized plans. 

Why did my premium go up? 

  • Premiums go up for several reasons and different companies raise their rates at different times of year.  It’s important to review your policy regularly and be aware of any communication regarding premium changes to avoid unpleasant surprises.   

  • Age related premium increases result in annual or bi-annual increases for some companies on or around your birthday. 

  • Inflation and healthcare costs means companies have to adjust premiums accordingly, which is usually done annually.   

  • The size of the policyholder pool means that less people staying in certain plans results in the existing policyholders paying more towards claims.  This is something we are now seeing with Plan F as no new beneficiaries are able to enroll in that plan. 

Can I have a Medicare Advantage plan and a Medigap policy at the same time? 

  • No you cannot.  You must choose one or the other and remain in that plan for the remainder of each year unless you have a Special Enrollment Period (like moving out of state) or until the Annual Enrollment Period (from October 15 – December 7).   

Can I have my premium paid from my Social Security check like my Prescription Drug plan is being paid?  

  • No, Medigap policies are billed separately from Original Medicare. You pay your premium directly to the insurance company offering the Medigap policy. It's important to pay your premiums on time to maintain coverage. 

Does Medicap cover prescription drugs?  

  • No, Medigap plans do not cover prescription drugs.  You will need to enroll in a stand-alone Medicare Part D prescription drug plan when you go into Medicare, unless you have other credible coverage, or face penalties later on when you want to enroll.  Contact us for more information about sources of credible coverage. 

If you have any additional questions, contact our team today! 

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