Medigap Insurance

Medigap insurance is another option for those who have Medicare and need some extra support. We will discuss all that you need to know about Medigap and if it right for you.

What is Medigap?

Medigap is a medical supplement insurance policy that helps pay for some of the costs of healthcare that Medicare will not cover. For example, Medigap will cover things like copayments, coinsurance, and deductibles.

These supplemental policies are sold by private insurance companies as additions on to your Medicare plan.

Important Facts About Medigap

  • You must have Medicare Part A (Hospital Insurance) and Part B (Medical Insurance).
  • You can purchase a Medigap policy from any licensed insurance company in your state.
  • You pay the private insurance company a monthly premium for your Medigap policy.
  • A Medigap policy only covers yourself – if your spouse also wants coverage, they will have to separately purchase the policy.
  • Any Medigap policy is guaranteed renewable, even if you have health problems.
  • You can apply for Medigap while having a Medicare Advantage Plan, but you must leave the plan before starting Medigap.
  • Medigap does not include prescription drug coverage
  • Medigap does not cover long term care, vision, dental, hearing aids, eye glasses, or private nursing

Other Supplemental Insurance Plans

Medigap may not be for everyone. You may want to look into plans like a Medicare Advantage Plan that also offers prescription drug coverage. There are many other types of insurance plans that are not Medigap, but will still help you pay for things that Medicare will not cover. According to, some of these plans are:

  • Medicare Advantage Plans
  • Medicare Prescription Drug Plans
  • Medicaid
  • Employer or Union Plans
  • Veterans’ Benefits
  • Long-Term Care
  • Indian Health Service, Tribal, and Urban Indian Health Plans

With 2019 Open Enrollment fast approaching, if you need extra assistance paying the costs that Medicare will not cover, you may want to investigate Medigap or another supplemental insurance plan.

Comment down below if you have any insights on Medigap or any other supplemental insurance plans for Medicare.

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