What is Medigap or Medicare Supplement?
Medicare Advantage plans are popular in Hawaii, but since there is no one-size-fits-all plan, Medicare Supplements may still be the best option for you. Supplements combine with Original Medicare to fill in the gaps of the traditional program, hence the name “Medigap”. Original Medicare covers 80 percent of your medical cost and the supplement pays most or all of the balance of copayments, coinsurance and deductibles.
They are standardized plans, meaning every carrier offers identical offerings, with premium and underwriting guidelines being the primary differences between them. In most states, plans are labeled A-D, F, G, K, L, M, & N. In recent years, carriers have added ancillary benefits like discount dental/vision, and/or fitness programs, to try and differentiate beyond price.
Medigap plans have their own set of enrollment periods and rules which vary by state.
A local Plan Advisor can help explain further and go over Medigap options with you.