Before we understand how the Medigap policy works, we first need to know what it is. The Medigap program is a health insurance sold by a private insurance company that supplements services or benefits not covered by the original health insurance [Parts A and B]. It actually fills the "blank" left by medical insurance. This is why it is often referred to as the Medigap program or the Medicare supplement program.
The Centers for Medicare and Medicaid Services [CMS] have standardized these programs to make them more suitable for consumers. These plans are often referred to as "plans" and follow-up letters; ie, plans A through F, plan G, plan K, plan L, plan M, and plan N. Each plan covers a variety of services not covered by Medicare. As you upgrade from A to N, as you go higher in the alphabet, the plan usually covers more services. Due to the insurance coverage of Medicare Part D prescription drugs, your Medigap program does not include drug insurance.
To be eligible beneficiary of the Medigap program, individuals must participate in Medicare Part A and Part B. Usually the beneficiary will find himself choosing a plan when he is 65 years old. Those 65 years of age or older have the opportunity to participate in the Medigap program. No health issues or exams. This window is 3 months before you turn 65 months and 3 months after you turn 65 months. So the month of the 65-year-old in September is eligible to apply between June and December. Older people covered by companies over the age of 65 can apply when they retire. They also have the opportunity to sign up for no health issues or exams.
Each Medigap policy covers only one person. For married couples, each spouse must purchase a separate Medigap policy. As a standard rule, an insurance company cannot cancel or revoke a Medigap policy as long as the beneficiary is still paying a monthly premium.
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