Private companies and the government.
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What is Secondary Health Insurance?
When talking about secondary health insurance, you’ll hear other names like supplemental insurance and Medigap.
All of these refer to a second plan that a person chooses to help cover costs not included in Original Medicare plan or Medicare Advantage plan.
In short, a supplemental insurance plan helps fill in “gaps” in coverage for retirees. If you’re looking to learn more, let’s start with common questions many people ask.
Who offers supplemental insurance plans?
What kind of costs does this policy cover?
Costs might include copayments, coinsurance, or deductibles.
Are there rules I should know about supplemental insurance plans?
Yes, it’s important to know the policies. For instance, you must be enrolled in Medicare Part A and Part B to qualify. To read more about specific rules, visit the Centers for Medicare & Medicaid Services here.
Is Medigap the same as Medicare Advantage plans?
No, these are different plans. Medicare Advantage plans are all-in-one insurance plans offered by private insurance companies. They cover what Original Medicare (Parts A and B) covers, and often cover prescription costs as well.
Does one plan cover me and my spouse?
No, each person must have their own separate insurance plan.
How do I decide what plan I need?
Begin by assessing your own health needs, your lifestyle, and what you can afford. For instance, do you have a chronic condition that requires prescription medications? Or, do you travel a lot outside of the U.S.? These life situations will determine which plans work best for you.
What resources are available to help me?
Resources exist to help seniors and families navigate these decisions. Start by visiting with trusted friends or family to learn about their experiences and resources.
Explore general industry websites like investopedia.com to follow news and opinions about supplemental insurance plans.
Content contained on this page is for informational purposes only and does not constitute medical advice. Consult your insurance provider for more information regarding your specific health plan. References provided are for informational purposes only and do not constitute endorsement of any websites or other sources. Should you have any insurance-related questions, you should contact your insurance organization or a licensed agent.