Take the Pledge
Why Take the Pledge?
Medigap coverage is supplemental insurance that serves to fill gaps in traditional Medicare. The purpose of these supplemental plans is to provide assistance to beneficiaries in areas where they may need it such as copays and deductibles. Medigap coverage is offered by private insurance companies and has seen increasing utilization over the past decade, becoming the second most utilized Medicare coverage type.
These plans, however, are not without their issues. Medigap costs seniors more in monthly premiums and total annual cost than other coverage types. The brokers who sell these plans get paid commissions as a percentage of premiums for both initial enrollment and plan renewal, rather than the CMS maximums for Medicare Advantage and Medicare Part D plans. This relationship does not lend itself to the best interest of enrolled seniors and could be a source of hardship for the populations who need it most.
As Medigap coverage plans become more popular, there must also be increased calls for patient protection and transparency.
Our nation’s seniors depend on it. Take the pledge today!