First and foremost, our thoughts and prayers are with those families, friends and neighbors, including our own employees, who have been affected by Hurricane Harvey and its aftermath.
A Medicare Supplement plan, also called a Medigap plan, is designed to cover the healthcare costs that Medicare won't. In order to show how important a Medigap plan can be in protecting you from out-of-pocket costs, we calculated how much money a Medigap plan would save you in the event of an unlikely, yet completely possible, serious medical issue.
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”.