Medigap is a type of insurance that helps fill the gaps in Medicare Parts A and B

Medigap is a type of insurance that helps fill the gaps in Medicare Parts A and B. It helps you pay some of the out-of-pocket costs that Original Medicare doesn’t cover, such as deductibles and copayments. It can also help you with some medical services that don’t fall under Original Medicare, such as doctor or hospital visits while traveling abroad.

You can get a Medicare supplement policy through an insurance company, such as THP Insurance Co. Inc., or through the Qualified Medicare Beneficiary (QMB) Program if you qualify. QMB may help you with your Medicare Supplement premiums and other out-of-pocket costs, including your deductibles, copayments and coinsurance.

When to Buy a Medicare Supplement Plan

You must sign up for a Medicare supplement plan within 6 months of becoming eligible for Medicare Parts A and B, which starts the first month you or your spouse is 65 or older. If you don’t enroll during this time, you could lose your coverage or pay a higher rate because of your health history.

How to Select a Medicare Supplement Plan

The federal government has set standardized plans that Medicare supplement companies must offer, labeled with letters A through N. Each of these plans offers the same basic benefits, and the premium you pay for them is based on the standardized cost of the plan.

Some of these standardized plans also allow you to choose a high-deductible Explore option that allows you to save money while paying out-of-pocket for Medicare’s deductibles. You can find out more about this type of coverage by contacting your local THP agent.

How to Buy a Medicare Supplement in Indiana

You must be enrolled in Medicare Parts A and B to purchase a Medicare Supplement plan. If you’re not enrolled in Medicare, you must apply for and enroll in Parts A and B at the Social Security Administration or the Medicare website.

How to Change a Medicare Supplement Policy

When you sign up for a Medicare supplement policy, you must tell your insurer about any changes to your health. This includes getting a physical, having an eye exam, or having your blood work tested. If you’re pregnant or planning to have a baby, you must also tell your insurer.

How to Reinstate a Medicare Supplement Policy If You Lose Medicaid Eligibility

If you become eligible for Medicaid, you can ask that your Medicare supplement policy be suspended for up to two years. Then you can apply again to reinstate your policy.

How to Get the Best Value for Your Medicare Supplement Policy

If your current Medicare supplement policy has a high deductible, you can ask to switch to one with lower premiums. Some Medicare supplement plans do not include prescription drug coverage, but you can add a Part D plan to your policy for an extra monthly premium.

How to Renew Your Medicare Supplement Policy

You can renew a Medicare supplement policy by sending your renewal notice to the company and paying your premium. If you don’t pay your premium or you make a false statement on your application, your policy can be cancelled.

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