Cost of supplemental insurance
Medigap is one type of supplemental insurance plan that can help pay for health-related expenses not covered by original Medicare. There are 10 types of Medigap plans, and their costs vary greatly, depending on the plan chosen and the company from which the policy is purchased. In general, you will pay a monthly premium, and may also be responsible for coinsurance, deductibles, and copays. Here are some examples of the costs to expect.
Premiums for Medigap policies increase as you get older. This means that the cheapest plans may not offer the full benefits you need. It is best to compare the benefits of different supplemental insurance plans and decide for yourself which is the best choice for you. In addition, be aware that the least expensive plans may not cover your medical expenses 100%. To save money, it is recommended to look at the cost versus the coverage.