So you can finally lay back and relax into retirement until you discover the rising costs of Medicare. If you are like the millions of seniors who are struggling with Medicare payments you can choose a Medigap insurance plan that can help your finances. A form of private insurance, Medicare Supplement Insurance (Medigap) can basically fill in the gap for the costs that original Medicare does not cover. For instance, it can help you cover coinsurance, copayments and deductibles for Medicare-covered services. You can also receive some other special benefits that Medicare won’t be covering any time soon such as healthcare services abroad.

 

So how do you know if you can choose Medigap? To qualify you must be enrolled in the Medicare Part A and Medicare Part B plans. Medigap insurance coverage comes from a private insurance company just like Medicare Advantage Plans but it is meant to support original Medicare plans rather than completely standing for them. Let’s look at how private insurance works with Medicare to grant you coverage.

 

Blue Cross Blue Shield Insurance Plans, for instance, can provide you with three possible options for coverage. If you receive original Medicare, you can choose one of six  Blue Cross Insurance Medigap options to complement your existing plan.  You can skip the original Medicare plans altogether and choose a Blue Cross Medicare Advantage Plan. Within those you can also opt for a Medicare Prescription Drug plan through which you can specify how much if any prescription coverage you want.