Anyone 65 years of age and over who has signed on for Medicare is likely going to realize that Medicare only covers a finite group of health care costs, leaving gaps in their medical insurance coverage. To help pay some of the health care costs that standard Medicare does'nt cover, such as co-payments, co-insurance and deductibles, there is Medicare supplemental insurance plan - also known as Medigap - which may cover what Medicare doesn’t cover. â€When you choose a Medigap plan, it is important to find the best policy for you,†said Alan Weinstock, insurance broker at "Medicare Supplement Plans". â€Seniors should talk to someone who knows [about it] and can help them compare rates, plans and benefits for Medicare supplement insurance before they buy.†For older Americans who are ready to choose a Medicare supplemental insurance policy, here are five tips to help them learn further about Medigap insurance. Medigap Insurance and the Policies Companies Sell There are Medigap plans ranging from A through L; however, while the insurance companies can sell only standardized Medicare supplement insurance policies, they don’t have to offer every Medigap plan. There is a caveat, though: Insurance companies must offer Medigap Plan A if they offer any other Medigap policy. State laws may also affect which plans are offered by companies. Important Information about Medigap Policies In order to buy a Medigap policy, there are some important points you need to know:
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