What is Medigap?

Medigap plans are essentially designed to fill the coverage gaps in the Original Medicare plan (Part A and Part B).Let’s dive deeper and understand how Medigap fills these gaps, the limitations, considerations and other handy information regarding Medigap.

Sold by private health insurance companies, Medigap plans are designed to assist you with out-of-pocket costs (e.g., deductibles, copays, and coinsurance) not covered by Parts A and B. This is why they are also commonly known as Medicare Supplement plans. Available in all 50 states, Medigap plans can vary in premiums and enrollment eligibility. While the plans are standardized, certain standardized plans will be unavailable in your area

Exclusive Benefits

Eligibility
The eligibility criteria for Medigap is the same as Original Medicare. You can enroll for Medigap if you are either:
- 65 years of age or older.
- Terminally ill with certain diseases, such as kidney failure.
- Younger than 65 years, but have certain disabilities.
Limitations

Medigap is a Medicare offering that has no network limitations (most of the time), and is available anywhere that Medicare is accepted.
Considerations
The two major considerations regarding Medigap are:
- Only certain Medigap plans cover foreign travel emergency services.
- Once you enroll for a Medigap plan, it renews each year as long as the plan is available and you pay your premium.

Costs Information

Premium

Requires you to continue to pay your Part B premium along with a separate premium for Medigap coverage.

Copay

May apply to specific services.

Deductibles

Certain plans have deductibles.

Coinsurance

The percentage of coinsurance varies depending on each plan.