This type of plan is also known as Medigap. It is an insurance that helps fill gaps in Original Medicare and is sold by private companies. This is a PPO plan which allows you to visit any doctor that takes your Med Supp policy, there are no referrals necessary.

There are 8 things you should know about Medigap policies:

1. You must have Medicare Part A and Part B.

2. A Medigap policy is different from a Medicare Advantage Plan. Those plans are ways to get Medicare benefits, while a Medigap policy only supplements your Original Medicare benefits.

3. You pay the private insurance company a monthly premium for your Medigap policy. You pay this monthly premium in addition to the monthly Part B premium that you pay to Medicare.

4. A Medigap policy only covers one person. If you and your spouse both want Medigap coverage, you'll each have to buy separate policies.

5. You can buy a Medigap policy from any insurance company that's licensed in your state to sell one.

6. Any standardized Medigap policy is guaranteed renewable even if you have health problems. This means the insurance company can't cancel your Medigap policy as long as you pay the premium.

7. Some Medigap policies sold in the past cover prescription drugs. But, Medigap policies sold after January 1, 2006 aren't allowed to include prescription drug coverage. If you want prescription drug coverage, you can join a Medicare Prescription Drug Plan (Part D). If you buy Medigap and a Medicare drug plan from the same company, you may need to make 2 separate premium payments.

8. It's illegal for anyone to sell you a Medigap policy if you have a Medicare Advantage Plan, unless you're switching back to Original Medicare.

No, generally they do not cover long-term care, vision care including exams and eye wear, dental care, hearing aids, or private duty nursing. After 2006, they do not cover prescription drugs.

In addition to what you pay for your Medicare Part B coverage through Social Security, there are additional costs to having a Med Supp plan. These costs vary from plan to plan, and you will need to discuss this with your agent.

The Centers for Medicare & Medicaid Services (CMS) is the agency within the U.S. Department of Health and Human Services (HHS) that administers the nation’s major healthcare programs. The CMS oversees programs including Medicare, Medicaid, CHIP (Children’s Health Insurance Program), and the state and federal health insurance marketplaces. CMS releases updated Medicare premium and deductible information each year. CMS pays a fixed amount for your care each month to the companies that offer the MAPD plans. These companies much follow the rules set by Medicare.