What is Medicare Supplement (Medigap) Insurance?

A Medicare Supplement plan, also known as Medigap, is sold by private insurance companies to help pay for the out-of-pocket costs that Original Medicare doesn’t cover—such as copayments, coinsurance, and deductibles.

With Medigap, Medicare pays its share of approved health care costs first, and your Medigap policy covers the rest.

It’s important to note that a Medigap policy is not the same as a Medicare Advantage Plan. Medicare Advantage (Part C) replaces Original Medicare benefits, while Medigap works alongside Original Medicare to fill in coverage gaps.

• You must have Medicare Part A and Part B to purchase a Medigap policy.
   
• If you have a Medicare Advantage Plan, you can only switch to a Medigap policy during certain enrollment periods or if you meet specific criteria (underwriting may apply). Always confirm you can leave your Advantage Plan before your Medigap coverage begins.
   
• You’ll pay a monthly premium to the private insurance company for your Medigap policy, in addition to your monthly Medicare Part B premium.
   
• Medigap policies cover one person. If you and your spouse want coverage, you’ll each need a separate policy.
   
• You can buy from any licensed insurance company in your state.
   
• Standardized Medigap policies are guaranteed renewable—as long as you pay your premium, your policy can’t be canceled, even if your health changes.
   
• Medigap policies sold after January 1, 2006, don’t include prescription drug coverage. If you want drug coverage, you’ll need to enroll in a Part D plan.
   
• It’s illegal for someone to sell you a Medigap policy while you have a Medicare Advantage Plan, unless you’re switching back to Original Medicare.

By calling the phone number on this site, you’ll be connected to a licensed agent who can help you compare plans and find the best fit for your needs.

Information obtained from www.medicare.gov