Medicare Supplement Insurance (MSI), also known as Medigap, works to “fill the gaps” left in your Medicare coverage. It will offset some of the costs you’d normally pay for on your own. Think of your MSI plan as extra insurance you buy to pay for things like:
- Co-pays
- Deductibles
- Coinsurance
For an Original Medicare plan: You must enroll in Medicare at the Social Security office, and there are certain time limits based on when you're enrolling. If you plan to enroll when you turn 65, you can enroll starting three months before your birthday month until three months after your birthday month.
For Medicare Supplement plans: You can enroll through private health insurance companies like Avera Health Plans once you’re enrolled in Medicare Part A and B.
To be eligible for Medicare Supplement Insurance, you must:
- Be 65 years of age or older and have Medicare Part A and Part B
- Be under 65 years of age and disabled and have Medicare Part A and Part B
- Have ALS (Lou Gehrig’s disease) and have Medicare Part A and Part B
Each person has different needs, so it’s best to consult with our licensed agents to understand your best options.
If you are on Medicaid, you may not need this insurance plan or any other Medicare Supplement Insurance.