Medigap

Medigap helps you lower you out-of-pocket costs and get more senior health insurance coverage.

The Original Medicare pays for many of your health care services, but it doesn't pay all of your health care costs, such as coinsurance, copayments and deductibles.

These costs are called 'gaps' in Medicare coverage.

You do not need a Medigap policy if you are on Medicaid or on Medicare Advantage plan.

A Medigap is a senior health insurance policy sold by private health insurance companies to fill the "gaps" in the Original Medicare.

It is also called Medicare Supplement Insurance. Some Medigap policies also cover other extra benefits not covered by Medicare like routine yearly check-ups, at home recovery and emergency health care while traveling outside the U.S.

Currently, there are 10 standardized Medigap plans called "A" through "J." Each plan has a different set of benefits. Plan A covers the basic / core benefits, which are also in all the plans. Medigap Plans B to J offer extra benefits. Medicare Plan J offers the most benefits.

When you buy a Medigap policy, you must have Medicare Part A and Part B. You will have to pay the monthly premium of Part B to Medicare. In addition, you will have to pay a premium to the Medigap insurance company.

Since your Medigap policy won't cover any health care cost for your spouse, you and your spouse must buy separate Medigap policies.

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