Medicare Supplement (Medigap)
A Medicare Supplement (also called "Medigap") insurance plan helps cover the costs that are left unpaid after Medicare Parts A and B pay their portion of your healthcare expenses, including deductibles and coinsurance. Medicare Supplement plans are purchased in addition to your Medicare Parts A and B benefits.
Types of Medicare Supplement plans
Medicare Supplement policies are standardized into 10 plans - labeled "A" through "N", each with its own set of benefits. Plan A covers the most basic benefits. These basic benefits are also covered in each of the remaining Medicare Supplement plans - B through N. Plans B through N provide additional coverage beyond the basics. There are no network restrictions.
Medicare Supplement policies are sold by private insurance companies.
While the costs of these policies may vary, individual insurance companies must provide the same standardized benefits. Some companies may offer innovative benefits. To purchase a policy, in general you must be enrolled in Medicare Part A and Part B. In addition to paying the monthly Medicare Part B premium to Medicare, you will have to pay a premium to the insurance company providing your coverage.