What is Medigap?

Medigap, also known as Medicare Supplement Insurance, is a type of private health insurance that is designed to work alongside Original Medicare. It helps cover the gaps or "gaps" left by Medicare Part A and B, such as deductibles, copayments, and coinsurance. Medigap policies are sold by private insurance companies and provide individuals with peace of mind and financial protection against unexpected medical expenses. These plans offer standardized coverage options, allowing beneficiaries to choose the one that best suits their needs. Medigap policies do not include prescription drug coverage, so individuals often need to acquire a separate Medicare Part D plan. Medigap provides additional financial security and allows individuals to have more control over their healthcare costs.