If you’re finding Medicare Supplement Insurance stretches your budget to the limit, investigate Medicare SELECT Plans. These are essentially limited versions of standardized Medigap Insurance that cost less.
SELECT Plans are almost identical to regular Medigap policies, but they typically limit which clinics, doctors and hospitals are covered for non-emergency and non-urgent care.
The providers that are in network operate under lower negotiated payment rates so your care costs the insurer less. Insurers pass the savings back to you in the form of lower than standard Medigap Plan premiums.
If you’re happy with the in-network providers, a SELECT Plan can give you Medigap coverage at a lower cost. If you need an out-of-network specialist, Medicare will still pay for 80 percent of its pre-determined amount, but your SELECT Plan may not pay for all or any of the remaining 20 percent. Even if you’re not familiar with the in-network providers, a SELECT Plan provides more access to health care than Original Medicare alone. Learn more about Medigap Insurance on our website.

Wiley Long is founder and president of Medigap Advisors, and is passionate about helping people navigate the confusing waters of Medicare. He is the author of The Medicare Playbook: Designing Your Successful Health Coverage Strategy, a clear and simple explanation so you can make the most of your Medicare coverage.