What is Medicare Supplement Insurance (Medigap)?
A Medicare Supplement Insurance (Medigap) policy helps pay some of the health care costs that Original Medicare doesn't cover, like:
Medigap policies are sold by private companies.
Some Medigap policies also offer coverage for services that Original Medicare doesn't cover, like medical care when you travel outside the U.S. If you have Original Medicare and you buy a Medigap policy, here's what happens:
Medicare will pay its share of the Medicare-approved amount for covered health care costs.
Then, your Medigap policy pays its share.
A Medigap policy is different from a Medicare Advantage Plan. Those plans are ways to get Medicare benefits, while a Medigap policy only supplements your Original Medicare benefits.
Every Medicare Supplement Inursance policy, also referred to as Medigap insurance, must follow federal and state laws designed to protect you, and it must be clearly identified as "Medicare Supplement Insurance". Insurance companies can sell you only a "standardized" policy identified in most states by letters. Medigap, is health insurance sold by insurance companies to help fill the “gaps” in Original Medicare Plan coverage (also called Part A and Part B). These expenses can include copayments, deductibles, and coinsurance. Some plans even help cover medical costs incurred during travel to other countries. If you have Original Medicare and you buy a Medigap policy, Medicare will pay its share of the Medicare-approved amount for covered health care costs. Then your Medigap policy pays its share. But it doesn’t cover everything. In general, services like vision and dental care, hearing aids, long-term care, and private nursing are not covered.
There are 10 different plans which are named using a letter of the alphabet: A, B, C, D, F, G, K, L, M, and N. Each plan includes a unique set of benefits, which are standardized by law.
Compare Medigap plans side-by-side
You must have Medicare Part A and Part B to purchase a medigap policy. You will have to pay the monthly Medicare Part B premium. In addition, you will have to pay a premium to the Medigap insurance company.
A Medigap policy only covers one person. If you and your spouse both want Medigap coverage, you'll each have to buy separate policies.
You can buy a Medigap policy from any insurance company that's licensed in your state to sell one.
Any standardized Medigap policy is guaranteed renewable even if you have health problems. This means the insurance company can't cancel your Medigap policy as long as you pay the premium.
Some Medigap policies sold in the past cover prescription drugs, but Medigap policies sold after January 1, 2006 aren't allowed to include prescription drug coverage. If you want prescription drug coverage, you can join a Medicare Prescription Drug Plan (Part D).
We understand choosing the right plan can be daunting and confusing. We take the time to help you understand your choices for coverage.