Is Medicare Supplement Same as Part B?

If you're new to Medicare or just need a refresher, it can be confusing to understand all the different parts and plan options available. In this article, we'll explain the difference between Medicare Supplement (also known as Medigap) and Medicare Part B.

What is Medicare Part B?

Medicare Part B is one of the four parts of Original Medicare, the federally funded health insurance program for people over 65 or those with certain disabilities. Part B covers medically necessary services and supplies that are ordered by a doctor or other healthcare provider. This includes things like doctor's visits, lab tests, X-rays, and durable medical equipment. Part B also covers some preventive services to help you avoid certain health problems.

You'll generally pay a monthly premium for Part B coverage, which is deducted from your Social Security benefits or your retirement benefit if you receive one. You'll also be responsible for paying a deductible and copayments for certain services.

What is Medicare Supplement (Medigap)?

Medicare Supplement, or Medigap, is private health insurance that you can purchase to help cover the costs that Original Medicare doesn't pay for, such as copayments, coinsurance, and deductibles. Medigap policies are standardized by the federal government, so you can be confident that you're getting a similar level of coverage no matter which insurance company you choose.

There are ten different Medigap plans available, and each one offers a different level of coverage. Some plans cover all of the out-of-pocket costs that Original Medicare doesn't pay for, while others only cover a few of these costs. It's important to compare the different plans and choose one that meets your needs and budget.

How are Medicare Supplement and Part B different?

One of the biggest differences between Medigap and Part B is that Medigap is a private insurance policy, while Part B is a government-funded insurance program. This means that Medigap is offered by private insurance companies, and you'll pay a monthly premium to get coverage. Part B, on the other hand, is funded by the government and is available to anyone who is eligible for Medicare.

Another difference is that Medigap is designed to cover the gaps in Original Medicare coverage, while Part B covers specific medical services and supplies. This means that Medigap can help you pay for things like copayments and deductibles that you might have to pay out-of-pocket if you only have Original Medicare. Part B, on the other hand, covers things like doctor's visits and lab tests.

Can I have both Medicare Supplement and Part B?

Yes, you can have both Medicare Supplement and Part B. In fact, many people choose to get both to have the most comprehensive coverage possible. If you have both, your Medigap policy will generally cover the gaps in your Part B coverage, so you won't have to pay as much out-of-pocket for medical expenses.

It's important to note that you can only have one Medigap policy at a time, so you'll want to make sure you choose the plan that's right for you. You'll also want to make sure you have both Part B and Medigap before you need medical care, as some Medigap policies have a waiting period before they start covering certain expenses.

Summary

Medicare Supplement (Medigap) and Medicare Part B are two different types of health insurance that can work together to provide you with comprehensive coverage. Part B is a government-funded insurance program that covers certain medical services and supplies, while Medigap is a private insurance policy that helps
cover the gaps in Original Medicare coverage, such as copayments and deductibles.

It's important to understand the difference between Medigap and Part B so you can choose the coverage that's right for you. You can have both Medigap and Part B to get the most comprehensive coverage possible, but you'll want to make sure you choose the right Medigap plan for your needs and budget.

Now that you have a better understanding of the difference between Medigap and Part B, you can make an informed decision about your healthcare coverage. If you're interested in learning more about Medicare Supplement plans, click on the offers below to compare plans and find one that's right for you. Don't wait until you need medical care to get the coverage you need – start shopping for a Medigap policy today.