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It's important for people to compare Medigap policies because costs can vary. The standardized Medigap policies that insurance companies offer must provide the same benefits. The only difference between Medigap policies sold by different insurance companies might be the cost. Also, insurance companies that sell Medigap policies don't have to offer each Medigap plan (A through J). Each insurance company decides which Medigap policies they want to sell. Buyers need to make sure the insurance company offers the Medigap policy they want.

Generally, when someone buys a Medigap policy, he or she must have Medicare Part A and Part B, and will have to pay the monthly Medicare Part B premium to Medicare. In addition, the insured will have to pay a premium to the Medigap insurance company. As long as the premium is paid, a Medigap policy is guaranteed renewable. This means it is automatically renewed each year. Coverage will continue year after year as long as premiums are paid.

Spouses must buy separate Medigap policies. Medigap policies won't cover any health care costs for the insured's spouse.

For additional information on Medigap policies, read the CMS publication, "Choosing a Medigap Policy: A Guide to Health Insurance for People with Medicare".

(Source: Centers for Medicare & Medicaid Services, 2004)


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