The Affordable Care Act requires all insurance companies

A Medicare supplement, also called Medigap insurance, is a type of health insurance sold by private insurance companies to help cover the health care costs that Original Medicare doesn’t cover. These costs include deductibles, copayments and coinsurance.

The Affordable Care Act requires all insurance companies to sell a standardized Medicare supplement plan, but prices and benefits vary from state to state. These plans are not the same as Medicare Advantage plans, which offer more comprehensive benefits and typically include prescription More details drug coverage.

Medicare supplements are guaranteed renewable if you pay the premium and don’t make false statements on your application. They also aren’t affected by your health, so you can buy one at any age and it won’t be canceled unless you make an intentional false statement or don’t pay your premium.

You can get a Medicare supplement policy during your six-month open enrollment period, which begins when you enroll in Part B. During that time, companies must sell you a Medicare supplement plan, even if you have health problems.

During your Medicare open enrollment period, you can choose from a wide variety of Medicare Supplement policies that will provide you with the level of coverage that meets your needs. Generally, you’ll want to choose a plan that covers your Part A and Part B deductibles.

There are 8 standard Medigap plans, labeled A through N. Each has a different deductible and copayment amount. Some Medigap plans have high deductibles or offer extra coverage for specific types of medical expenses.

Some Medigap plans provide additional benefits, such as emergency care while traveling outside the United States. These plans usually pay 80% of the charges Medicare would have paid for you while you’re away from home.

Many Medigap plans also pay a certain percentage of the cost of prescription drugs, and some offer coverage for routine vision and dental services. Other Medicare supplement policies pay for long-term care and private-duty nursing.

You can compare Medigap policies by using SHIIP’s interactive tool. Simply enter your age, gender and the type of Medigap policy you’re interested in, and SHIIP will show you a list of companies offering that plan along with their estimated premiums.

If you move to a new location, your existing Medigap policy may still be in effect, so be sure to check with the company. If your policy won’t be valid in your new location, you’ll need to find a new Medigap policy or go back to Original Medicare.

When you’re enrolled in a Medicare supplement plan, you can’t lose your eligibility for Medicaid within two years of losing your Medicare coverage. However, if you lose your Medicaid eligibility and reapply for Medicaid coverage, you must notify the company within 90 days of losing eligibility.

Medicare is a federal program that provides healthcare coverage for people aged 65 and over, or qualified individuals under age 65 with end-stage renal disease (ESRD). It pays medical bills and prescription medications.

To qualify for Medicare, you must have worked for 30 years or more, have paid taxes on your earnings and have certain medical conditions. The age requirements can be higher in some states.