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Boomer (Medigap) Medicare Supplemental Plans

Medicare Supplemental  Insurance Plans (Medigap) are an option to original Medicare and Advantage Plans that may meet the needs of some baby boomers better.  In fact, about 18% of Medicare beneficiaries are covered by a Medigap insurance policy so it is a popular choice for many.

Medigap Insurance Explained

Medigap is a type of private health insurance used instead of original Medicare that provides coverages for medical expenses not or only partially covered by Medicare.

Since Medigap insurance policies ares standardized by the federal goverment you will have a set list of “standarized Medigap policies” to choose from. These policies differ among states and even among local counties.  So one of the best ways to help compare Medigap policies is to consult the “Compare Medigap Policies” web site so that you can compare plans side by side to see what Medigap benefits best meets your needs. They even have a Find a Medigap Policy in Your Area form.

Once you find a Medigap policy that is best for you, then you need to shop around for the best insurance company to purchase that policy.  Best meaning the insurance company reputation and customer service as well as the cost of the policy, which can vary greatly even for the same policy which provides the same benefits. Be sure to ask if the insurance company has the SilverSneakers program.

So spend some time on the Medicare.gov site to education yourself about Medicap insurance, compare the policies, then contact several insurance companies to get quotes and have your questions answered.

By Robert Fowler