Medigap

Medigap, also known as Medicare Supplement Insurance, is private health insurance designed to supplement Original Medicare (Parts A and B) by helping pay for out-of-pocket costs such as deductibles, coinsurance, and copayments. Medigap policies are sold by private insurance companies and are standardized into different plans labeled with letters (e.g., Plan A, Plan B, etc.), each offering different levels of coverage. Beneficiaries must have Original Medicare to purchase a Medigap policy, and policies typically cover services that Medicare does not fully cover, providing beneficiaries with greater financial protection and peace of mind. Medigap policies can help reduce healthcare expenses and eliminate surprises by covering costs that would otherwise be paid out of pocket. It is essential for beneficiaries to compare Medigap plans carefully to find the one that best meets their healthcare needs and budget.