Medicare Supplementary Medical Insurance - SMI

Medicare Supplementary Medical Insurance (SMI), also known as “Medigap,” is private health insurance that’s meant to be complementary to Medicare Part A and Part B.

If you thought Medicare was simple...well, there’s no way to say this nicely: you were wrong. No relaxing in retirement for you. Gotta wade through complicated rules like you’re going to school for the first time. Thankfully, there are Medigap plans, designed to help retirees fill in the gaps for things they need covered that aren’t included in the mainstay Medicare insurance plans. You must be covered by Part A and Part B to quality for Medicare Supplementary Medical Insurance plans.

While SMI are doled out by private companies, there are federal government rules on them, one being the standardization of coverage, keeping companies from differentiating their product plans, and saving all those retired, burned-out brains and tired bodies some research time and worry. If you want to up your Medicare insurance when you retire, check out an SMI.