Nevada Medicare Supplements

Nevada Medicare supplements are also known as Medigap policies. A Medigap policy is health insurance sold by private insurance companies to fill the "gaps" in Original Medicare Plan coverage. Medigap policies help pay some of the health care costs that the Original Medicare Plan (Part A&B) doesn’t cover.

If you are in the Original Medicare Plan and have a Medigap policy, then Medicare and your Medigap policy will pay both their shares of covered health care costs. It is important to understand what your Supplement will, and will not, cover.

Insurance companies can only sell you a "standardized" Medigap policy. These Medigap policies, also known as Nevada Medicare Supplements, must all have specific benefits so you can compare them easily. The standards were developed by the Center for Medicare & Medicaid Services.

Note: Some plans are expected to be phased out by June 2010. These phased out plans are expected to be replaced by coverage that is more extensive.

Medigap policies must follow Federal and State laws. These laws protect you. A Medigap policy must be clearly identified on the cover as "Medicare Supplement Insurance". Each plan, A through L, has a different set of basic and extra benefits. Most companies have these benefits listed in easy to read chart format. This helps you when you are making your decision.

It's important to compare Medigap policies because costs can vary. The benefits in any Medigap Plan A through L are the same for any insurance company. Each insurance company decides which Medigap policies it wants to sell and what the premium they will charge for each plan.

Generally, when you buy a Medigap policy you must have Medicare Part A and Part B. You will have to continue to pay the monthly Medicare Part B premium to the government. And, you will have to pay a premium to the Medigap insurance company. This means you will be paying a premium for Part B and for your Supplement.

You and your spouse must each buy separate Medigap policies. You cannot cover your spouse on your policy per the Center for Medicare & Medicaid Services (CMS). Your Medigap policy won't cover any health care costs for your spouse. This is important to understand.

As with all insurance policies, always read both the policy and accompanying literature.

Source: Center for Medicare & Medicaid Services (CMS)

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