If you’re concerned about Medicare costs, a Medigap health insurance policy (also called Medigap supplemental insurance or a Medicare supplemental plan) helps pay the “gap” between what Original Medicare (Medicare Parts A and B) pays and what you pay out of your own pocket.
You can get a Medicare Supplement insurance policy through private insurance companies. You can get a Medicare Supplement insurance plan only if you already have Original Medicare. Medigap covers Medicare Part A (hospital insurance) and Medicare Part B (medical insurance), but it does not cover Medicare Part C (Medicare Advantage plans), Medicare Part D (prescription drug plans), or any other private health insurance, Medicaid, Veterans’ Administration benefits, or TRICARE.
Because Medigap policies are regulated by state and Federal laws, the benefits for all the coverage options are the same regardless of insurer. The differences will be in the price, who administers the plan, and which of the 10 options the insurer chooses to offer. Choose a health insurer you trust, and shop around for the best prices.
“All insurance companies selling a particular Medigap plan type in your area must offer the same coverage, but may offer it at different prices. So, you may want to shop for the best price.”