Medicare Supplement Insurance (Medigap): Who Qualifies and What You Get
Learn how Medigap policies help cover your out-of-pocket healthcare costs like copays and deductibles.
Medicare Supplement Insurance, often called Medigap, is a type of insurance sold by private companies to help pay for certain costs you might face when using original Medicare.
Who it's for
This coverage is designed specifically for people who are already Medicare beneficiaries.
What you get
These plans are meant to cover the "gaps" in your original Medicare coverage. This includes paying for costs like copayments, coinsurance, and deductibles that Medicare does not cover on its own.
What it costs you
You will need to pay a monthly premium to keep your coverage active. To get the best value, it is recommended that you purchase a plan during your initial six-month enrollment window.
The catch to know
You cannot have both a Medicare Advantage plan and a Medigap policy at the same time. You must choose one or the other.
How to apply
- Determine if you are eligible for original Medicare.
- Compare different supplement plans offered by private insurance companies.
- Choose a plan that fits your budget and medical needs.
- Contact a provider to enroll in a policy.