Summarizing the Medigap Program

Summarizing the Medigap Program

HCR-230

Mrs. Jetonga Keel

Summarizing the Medigap Program

Having health insurance is mandatory these days. You can purchase a plan through the marketplace (Obamacare) or keep your insurance through your job. If you do not have a plan then you are penalized the following year on your taxes. For about the same amount of money you will be fined, you could have paid for a plan. In the instance that your current plan or the newly purchased plan does not cover everything you need, you can always purchase extra coverage to cover the gaps that your primary insurance does not cover.

If you already have a Medicare plan and find not everything you need is covered under their plan, you can buy what is called a Medigap insurance plan. This extra coverage is usually sold through private insurance companies that cover copayments, coinsurance, and deductibles. Having this extra insruance also can help keep you covered if you are ever traveling out of state or out of country. Just like primary health insurance, there are options in plans that have lower premiums and some that have higher premiums to pay. Some plans have lower options and others have higher options in the coverage. Making sure you find the right extra plan for you is key to getting the most for your money.

Personally, after doing some research on medigap plans in my area, it really does not suit me to purchase. I do not have Medicare either. After looking at the coverage and the prices per month and the annually costs, it really is too much. Paying this premium on top of the primary insurance premiums is too much. In a few words, I do not really think you get what you pay for. The coverage is a little too low for the prices they want to charge. If you are fortunate, enough to have the money to spend for extra coverage then are covered. For the rest of us that are just surviving it would be hard to pay our bills, plus paying our primary insurance, and...