Medicare Supplement Plan F is almost gone for good. If you’re on it at the begining of 2020 you can remain on the plan for life.

You might be able to save money with a Medicare Supplement insurance plan. Medicare Supplement, or Medigap, insurance plans fill in “gaps” in basic benefits left behind by Original Medicare, Part A and Part B, such as deductibles, coinsurance, and copayments.

What Is the Cost of Supplemental Health Insurance for Seniors?

MedicareOther Insurance for Seniors Print  September 24, 2019  DefinitionsGuideTips

Are you new to Medicare? Trying to figure out the cost of supplemental health insurance for seniors? Look no further! HealthMarkets has the information you need, whether it’s for supplemental health insurance or Medigap.

The answer really depends on what you are looking for: supplemental health insurance plans designed for seniors or Medicare supplement plans. Although they are often confused because of their similar terminology, they are very different. So before we give you the cost of supplemental health insurance for seniors, let’s review the differences between these two lines of products.

Senior Supplements

Senior supplements are supplemental health insurance plans designed specifically to meet seniors’ needs. Supplemental health insurance includes products like dental, vision, and life insurance. These plans are sold by private health insurance companies and are not Medicare. They can be purchased at any time, though there are age restrictions to certain products (like life insurance).

Medicare Supplement Plans (Medigap)

Medicare supplement plans are related to Medicare. Like Medicare’s “Parts”, each plan letter offers different benefits and has a different premium amount. They are designed to fill the “coverage gaps” in Original Medicare benefits (hence the name Medigap). These products will cover healthcare expenses otherwise left out of Original Medicare coverage, like coinsurance and deductibles. However, Medigap plans do not include dental, vision, or any other supplemental health insurance benefits.

Now that everything’s all cleared up, we can get to the costs.