What is Medigap Insurance? (Medicare Supplement)
If you’re newly eligible for Medicare, you may be surprised to learn that traditional Medicare (Parts A and B) doesn’t cover all your health care costs. You’re probably wondering “what is Medigap insurance?” Like many insurance policies, traditional Medicare has deductibles and co-pays. And even after your deductible is met, Medicare only pays 80 percent of your medical expenses, leaving you responsible for the other 20 percent.
What is Medigap Insurance?
Medicare Supplement, or Medigap, insurance, is private health insurance that covers medical costs not paid by traditional Medicare. To enroll, you must also be enrolled in Medicare Parts A and B. People enrolled in Medicare Advantage (Part C) are not eligible for Medicare Supplement insurance unless they switch to Medicare Parts A and B.