What do I need to know if I want to buy a Medigap policy?
• You must have Medicare Part A and Part B to buy a Medigap policy. • If you have a Medicare Advantage Plan, you can apply for a Medigap policy, but make sure you can leave the Medicare Advantage Plan before your Medigap policy begins. • Plans E, H, I, and J are no longer for sale, but you can keep these plans if you already have one. • You pay the private insurance company a monthly premium for your Medigap policy in addition to the monthly Part B premium that you pay to Medicare. • A Medigap policy only covers one person. If you and your spouse both want Medigap coverage, you each will have to buy separate Medigap policies. • You can buy a Medigap policy from any insurance company that’s licensed in your state to sell one. • If you want to drop your Medigap policy, contact your insurance company to cancel the policy. • Any standardized Medigap policy is guaranteed renewable even if you have health problems. This means the insurance company can’t cancel your Medigap policy as long as you pay the premium.
Although some Medigap policies sold in the past cover prescription drugs, Medigap policies sold after January 1, 2006, aren’t allowed to include prescription drug coverage. • If you want prescription drug coverage, you can join a Medicare Prescription Drug Plan (Part D) offered by private companies approved by Medicare. To learn about Medicare prescription drug coverage, visit http://go.usa.gov/3GG to view the booklet “Your Guide to Medicare Prescription Drug Coverage,” or call 1-800-MEDICARE (1-800-633-4227). TTY users should call 1-877-486-2048.