What is a Medicare SELECT plan?

A Medicare SELECT plan is Medicare supplement insurance (Medigap policy) that functions like a managed care plan. These plans can be any of the standardized Medigap policies and usually have lower premiums. The plan requires its members to use a network of physicians and other providers and covers part or all of the Medicare copayments and deductibles. However, except in an emergency, a Medicare SELECT plan likely will not cover copayments or deductibles for out-of-network services. 

There are three more important points to know. 

• These plans are not available in every area. 
• Those who buy a Medigap SELECT policy have a 12-month window to switch back to a standard Medigap policy.
• Beneficiaries who have elected a Medicare Advantage plan cannot purchase a Medicare SELECT plan.