About Medigap Coverage

A private health insurance policy which is intended to supplement the original Medicare is called a Medigap (similarly known as “Medicare Supplement Insurance”) Policy. It is intended to assist with a variety of health care expenses (or “gaps”) that the original Medicare will not cover for you (such as co-payments, deductibles, coinsurance).

For those of you enrolled in the original Medicare who possess a Medigap policy, Medicare pays its portion of the officially approved totals associated with health care expenses. After that, your Medigap policy covers its portion. (Note: Medicare will never cover any of the premiums associated with obtaining a Medigap policy). Remember too, that a Medigap policy proves to be different from a Medicare Advantage Plan (such as a PPO or HMO) since such plans are means of obtaining Medicare benefits, and a Medigap policy simply acts as a supplement for your Medicare benefit amounts.

Each Medigap policy has to obey state and Federal rules created to protect you the consumer. These policies must further state that they are “Medicare Supplement Insurance.” Recognized with letters A through N, Medigap policies may only be sold as a standard policy by Medigap insurance companies, in the majority of states. All standard Medigap policies have to feature the identical common benefits, regardless of the insurance company vending it. Where the identical letter is offered by different insurance outfits, cost of the policy is typically the solo variance between Medigap policies.