Medigap insurance plans are created specifically to cover the gaps left by Medicare plans. So, yes, it is practical, and sometimes necessary, to get a Medigap insurance plan as long as you can afford the premium. The main objective of Medigap insurance plans is to help lessen the out-of-pocket epenses such as co-insurance and deductibles. You can choose from the 12 standardized Medigap plans available from private health insurance companies. The coverage is the same from Plan A to Plan L. However, succeeding plans after Plan A offer some benefits unique to each plan. Medigap Plan A is the most basic type among the plans and might be relatively cheaper as compared with the others. Your choice will vary on two things: the specific add-on benefit of each plan and the premium. Medigap insurance is created to supplement Medicare with the best interest of the plan holders. However, federal and state laws tend to focus more on regulating benefits and coverage and not so much on the cost charged by health insurance companies. The best thing to do to get the best deal, since the benefits are the same, is to get quotes from as many insurance companies as possible. It will lead you to the most affordable plan that fits your needs. Just make sure that you are dealing with a trusted company that would give you the lowest cost without compromising the benefits. The purchase of the plan does not end on the initial payment. Make sure that you will still pay a competitive premium as your mother grows older. Since most health insurance plans are based on age, ask the health insurance company how they structure the increase of the premium. Does the health insurance company offer community-rated policies wherein everyone in the area pays the same rate? You might save some money from this type of plan. Consider carefully what your mother’s health care needs are and what your priorities are before choosing one from the Medigap insurance plans to supplement her Medicare. - June 26, 2009 @ 1:20 pm