Medicare Supplement (Medigap)
Medicare Supplement (Medigap)
A Medicare Supplement plan (Medigap) is private insurance that helps cover the “gaps” in Original Medicare, such as deductibles, coinsurance, and copayments. These standardized plans (labeled A through N) allow you to see any doctor or provider who accepts Medicare, with no network restrictions. They do not cover prescription drugs (those require a separate Part D plan) and do not include extra benefits like dental or vision.
Advantages:
- Lower out-of-pocket costs
- No network restrictions
- Predictable expenses
- Guaranteed renewable
- Insurer cannot deny coverage for Medicare-approved medically necessary services
Disadvantages:
- Cannot be used with Medicare Advantage plans
- Typically do not cover long-term care, dental, vision, or hearing
Medigap plans are especially helpful for individuals concerned about high out-of-pocket medical costs.