Medigap & Medicare Advantage Plans

If you are a retired employee of Syracuse University who is no longer eligible for coverage under the University’s Medical Benefits Plan or Retiree Medical Benefits Plan, you may be covered by Medicare. If you wish to obtain individual medical coverage that will supplement Medicare, you may want to consider one of the following alternative non-University medical plans.

The University does not endorse or sponsor any alternative medical plan or medical coverage provider, and will not be involved in the establishment or maintenance of such coverage. Your decision with respect to such alternative plan coverage is completely voluntary. Any such individual medical coverage you may decide to obtain is not a University benefit and is not part of a benefit arrangement or plan established or maintained by the University.

Medigap Plans

A Medigap plan is a health insurance policy sold by private insurance companies to fill the “gaps” in the original Medicare Plan by helping you pay health care costs that the Original Medicare plan (not to be confused with the Medicare Advantage Plans) doesn’t cover. If you are in the Original Medicare Plan and have a Medigap policy, then Medicare Part A and Part B and your Medigap policy will each pay a share of your health care costs.

If you are interested in purchasing a Medigap Plan, you must contact an insurance company directly. There are currently 10 different Medigap plans available. Each plan has a different set of benefits specified by the Center for Medicaid and Medicare Services (CMS). The premium varies based on plan design and company selected. All contributions and other costs for the coverage you select are your responsibility. More information about the different Medigap plans is available from Medicare.

Medicare Advantage Plans

Medicare Advantage Plans  are offered in many geographical locations through private insurance companies. Similar to employer-based health plans, they often provide extra benefits, such as extended coverage for hospital stays. If you are interested in purchasing a Medicare Advantage Plan, you must contact an insurance company directly.

To join a Medicare Advantage Plan, you must have Medicare Part A and Part B. You will have to pay the monthly Medicare Part B premium to Medicare. Depending on the plan selected, you may have a monthly premium to your Medicare Advantage Plan for the extra benefits that it offers.

If you’re in a Medicare Advantage Plan, you don’t need to purchase a Medigap policy as Medicare Advantage Plans generally cover many of the same benefits covered by a Medigap policy, such as extended coverage for hospital stays after you have exhausted Medicare coverage.

These plans have varying monthly premiums, starting at $0 per month. All contributions and other costs for the coverage you select are your responsibility. More information about the different Medicare Advantage Plans is available from Medicare.

For More Information

For more information on either type of plan, please visit Medicare.gov or call: 800.MEDICARE (800.633.4227).

Questions? Call the HR Service Center at 315.443.4042 or e-mail hrservice@syr.edu.