Medicare Part D covers prescription drugs. There are ways to get Part D, but Medigap isn’t one of them. However, Medigap still offers plenty of other beneficial coverage.
How Does Medigap Coverage Work?
You can purchase Medigap alongside Original Medicare. You’ll pay premiums for your plan and receive benefits in return. As far as coverage goes, your coverage will vary depending on the plan you choose. However, coverage you might have with a Medigap plan may include:
- Part A coinsurance and hospital costs
- Part B coinsurance or copayment
- First 3 pints of blood for transfusions
- Part A hospice care coinsurance or copayment
- Skilled nursing facility care coinsurance
- Part A deductible
- Part B deductible
- Part B excess charge
- Foreign travel care
The exact coverage you receive depends on the type of Medigap plan you purchase. There are 10 to choose from—plans A, B, C, D, F, G, K, L, M, and N, with Plans C and F discontinued for new enrollees after 2020.
What Are My Options?
Of this huge list of benefits, where are prescription drugs? Unfortunately, no Medigap plan covers prescriptions. However, this doesn’t work for everyone. Many people rely on prescription drug coverage to stay secure financially and for their health. The alternative is either a standalone Part D plan or a Medicare Advantage plan with Part D coverage included.
While you can have a Part D plan and Medigap at the same time, you cannot have a Medicare Advantage plan and Medigap plan at the same time. You must choose one over the other.
Medicare Advantage has a much lower monthly premium than Medigap, but with more restrictions to how you receive coverage.
So, you do have options if you need prescription drug coverage; it’s just a Medigap plan won’t provide that for you. However, these plans do have other great coverage you can benefit from.
Take Your Coverage to the Next Level with Kannonball
Not only do we help find you the right Medicare coverage, but we also make it even better with the perfect plan to fit your exact needs. Learn more by calling Kannonball Insurance Solutions at (254) 918-5444.