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Florida Medigap PoliciesA Medigap insurance policy is health insurance that is sold by private insurance companies that fills "gaps" in the Original Medicare Plan. A Medigap policy only works with the Original Medicare Policy. Medigap policies help pay your part (coinsurance, copayments or deductibles) of the costs of Medicare-covered services. In most states you can choose from up to 10 different standardized Medigap policies. Each plan type has a letter name (e.g. Plan A). All plans that have the same letter name offer the same standard benefits associated with that plan. However, insurance companies may charge very different rates for the same plan so it is important to comparison shop to find the best price for you. Medigap policies must follow Federal and state laws. Each Medigap plan A through N has a different set of standard benefits. Some companies may offer additional benefits alongside the standard benefits. As previously stated, it is important to compare Medigap policies because the benefits within a given type of Medigap plan are the same for any insurance company but the costs will vary by a considerable amount and may go up as you grow older depending on how the insurance company prices the plan. Each insurance company decides which Medigap policies it will sell and the price it will charge (subject to state review and approval). Medicare and You |