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What is Medigap?

What is Medigap?Medigap is a Medicare Supplement Insurance that is sold by private insurance companies to aid in paying some of the costs of health care that the original Medicare will not cover like coinsurance, co-payments, and deductibles.

What is a Medigap policy?

There are some Medigap policies that cover services like medical care when you’re outside the United States. If you buy Medigap and have the Original Medicare, then Medicare pays the portion of the Medicare approved amount of health care costs and Medigap pays its share.

What does medigap cover?

Medigap policies are different than a Medicare Advantage Plan which are a way to get Medicare benefits. A Medigap policy “Only Supplements your Original Medicare Benefits.”

Things you should know about Medigap Policies:

  1. You are required to have Medicare Part A and Part B
  2. You can apply for a Medigap policy if you have a Medicare Advantage Plan “but you need to make sure you can leave the Medicare Advantage Plan before the Medigap Policy begins.
  3. You pay an additional monthly premium to the private insurance company in additions to the premium for Part B you pay Medicare each month.
  4. Medigap policies only cover one person – spouses must each buy and pay for a separate policy.
  5. You can purchase a Medigap policy form any insurance company which is licensed in your state to sell a Medigap policy.
  6. A standardized Medigap policy is guaranteed renewable even when you have health problems so if you pay your premium the insurance company cannot cancel your Medigap policy.
  7. Medigap policies sold after January 1, 2006 are not allowed to include prescription drug coverage. For prescription drug coverage, you can join a Part D Medicare Prescription drug plan.
  8. If you have a Medicare Medical Savings Account “MSA” Plan, it is illegal for a Medigap Policy to be sold to you.


What is Medigap insurance? | What is a Medigap policy | What does medigap cover?