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SUPPLEMENT YOUR ORIGINAL MEDICARE WITH MEDIGAP

Medigap is the health insurance offered by private health insurance companies to supplement Medicare Part A and Part B (Original Medicare). It fills the gaps left by Medicare to cover co-payments, deductibles, coinsurance, and emergency healthcare when you travel abroad.Numerous private insurance companies are offering Medicare supplement insurance in New York.

You can get online enrollment for Medigap plans in New York. Get in touch with an insurance agency and choose your Medicare supplement insurance in New York (Medigap) after considering all available policy options.

Some people confuse Medigap or Medical Supplement Insurance with Medicare Advantage (Medicare Part C) and Medicaid. Read further to understand the three terms with more clarity and differentiate between the two.

MEDICARE ADVANTAGE

Medicare is a social security scheme to provide health insurance to people above the age of sixty-five or those with permanent disabilities. People of any age with end stage kidney failure or ALS can also avail Medicare benefits.

There are four parts of Medicare:

  • Medicare Part A or Hospital Insurance covers inpatient care.
  • Medicare Part B or Medical Insurance covers outpatient care.

Medicare Part A and Part B, together, are known as Original Medicare. They cover the vast majority of healthcare costs that can be incurred by the elderly.

Those wishing for increased coverage can opt for:

  • Medicare Part C (Medicare Advantage Plans)
  • Medicare Part D (Prescription Drug Plans).

Medicare Advantage is available at zero premium and/or additional cost, depending on the Plan, for getting dental and eye coverage, prescription drug coverage, and some other benefits.One must already have Original Medicare (Part A and Part B) to be eligible for Medicare Advantage.

MEDIGAP

Private insurance companies offer Medigap or Medicare Supplement Plans. It fills the gaps left by Medicare.

One must already have Original Medicare (Medicare Part A and Medicare Part B) to be eligible for Medigap. But you cannot have both Medicare Advantage and Medigap.

Medigap will not cover certain costs like vision and dental care, eyeglasses, and hearing aids. Prescription drugs are also not covered. Medicare Part D will be required for the same.

Thoroughly research the benefits and drawbacks of both Medigap and Medicare Advantage and their costs for making an informed decision.

Medicare supplement insurance in New York (Medigap) will cover only one person's health care costs. Separate policies will have to be obtained for you and your spouse through payment of monthly premiums.Apply for online enrollment of Medigap plans in New York or contact an insurance agency licensed in your state.

MEDICAID

Medicaid is also a public health insurance program. It is offered to individuals and families with lower income levels who are US citizens, permanent residents, or legal immigrants. The income is measured in relation to the Federal Poverty Level (FPL).It covers various healthcare facilities ranging from regular doctor visits to hospital stays and long-term medical care. Custodial care and other health-related costs are also covered under Medicaid.It is operated at the state level and funded jointly by the state and federal governments. The coverage varies from state to stateand generally covers all treatment without coinsurance, copays or deductibles.

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