Can You Buy Two Medigap Policies at Once? Insights from a Supplemental Insurance Agency in La Porte, Indiana

Medicare beneficiaries are often looking for ways to optimize their healthcare coverage. This sometimes leads to the question: does it make sense to hold multiple Medigap policies simultaneously? Medigap policies are crucial in bridging the gaps left by Original Medicare — but can you enroll in more than one policy? This supplemental insurance agency in La Porte, Indiana is going to explain some of the key things you should know about this topic below.

Understanding Medigap Policies

Medigap, or Medicare Supplement Insurance, does exactly what the name suggests — supplement the Medicare coverage. It fills the gaps left behind by Original Medicare. To enroll for the same, you must have Original Medicare, i.e., Part A and Part B, and you must be 65 or older. It covers just one individual under the plan and pays for out-of-pocket costs such as copayments, coinsurance, and deductibles. These policies are standardized offering uniform benefits. You can keep the policy as long as you make premium payments timely and are truthful on your application.

Can You Get Two Medigap Policies?

The answer to whether you can buy two Medigap policies is straightforward. No, you cannot. Federal regulations prohibit you from holding more than one Medigap policy at the same time. It helps prevent overlapping coverage and avoid unnecessary financial burdens on beneficiaries. Besides, having multiple Medigap policies wouldn’t provide additional benefits; it would only add to your premium cost without extra benefits. So you only need one Medigap policy, and it’s also illegal for an insurance agency to sell more than one policy to one individual. By law, they can only offer plans A to N individually, with plans E, H, I, and J being no longer available.

What If You Require Additional Coverage?

Holding two Medigap policies isn’t the solution — getting more comprehensive coverage is. So, the first thing you should do is upgrade your current plan. If the existing coverage isn’t sufficient, you can switch to a different level of coverage to suit your requirements. From Medigap Plan A to Plan N, you can choose the one that offers maximum benefits.

Next, you can consider Medicare Advantage plans (Part C) — an excellent alternative to Medigap. It can offer coverage for vision, dental, hearing, gym memberships, debit cards for over-the-counter medical supplies, and may also include prescription drug coverage (Plan D). But remember, switching to a Medicare Advantage plan means you’d no longer have a Medigap policy as you cannot have both.

You can always talk to a knowledgeable supplemental insurance agency in La Porte, Indiana to explore additional insurance products. They can assess your needs and suggest the right combination of policies.

Choosing the Right Coverage

Getting a suitable Medigap plan requires careful consideration of a few crucial factors. First, you must assess your unique health needs and determine the level of coverage appropriate for you. Consider your current health status, frequently used services, and preferred hospitals or doctors. This assessment will help you compare different plans available in the market, which is the next big consideration.

Get at least three quotes to compare the benefits and premiums of different providers. It’s best to consult with a supplemental insurance agency in La Porte, Indiana for personalized recommendations. A reliable and knowledgeable agent will be more than happy to help you select the best plan for your needs.

Looking for a Supplemental Insurance Agency in La Porte, Indiana?

Selecting the right Medigap plan can feel like a breeze with the right information and assistance.  If you’re looking for a supplemental insurance agency in La Porte, Indiana that can simplify the process for you, our experts at Senior Care Insurance Services (SCIS) are just a call away. Contact us today to start the process.