When it comes to healthcare costs, Original Medicare (Parts A and B) pays for a lot, but not everything. To help cover many of the expenses, you may want to consider Medicare Supplement Insurance, also called Med Supp or Medigap.

This type of insurance can help pay for copayments, deductibles, and coinsurance from Medicare Part A and/or Part B coverage. Some policies even cover services Medicare doesn’t, such as medical care during international travel, and helping to cover emergency medical care. Long-term care, vision, or dental care, hearing aids, and private-duty nursing are usually not covered, and Medigap doesn’t include prescription drugs. 

Medigap is sold through private insurers and is only available to people enrolled in Medicare Part A and Part B. If you have a Medicare Advantage plan, you can usually switch to a Medicare Supplement policy at any time; however, you typically have to answer some health questions upon applying and your policy premium may be adjusted based on health history.

There are 10 Medigap plans, and each is named by letter. All plans offer the same basic benefits, though each provides slightly different levels of coverage.

Insurance companies set the premiums for their Medigap plans, which means costs can vary widely for the exact same coverage. Interested beneficiaries should take time to shop around before signing up for a policy. If you enroll in Medigap insurance, you will still need to pay the monthly Part B premium in addition to the monthly cost for Medigap. You will also need to apply for prescription drug coverage in order to avoid incurring a late enrollment penalty, unless you have creditable coverage from another source such as the VA or an employer.

As with other Medicare plans, timing matters when it comes to enrolling in Medigap. The best time to start a policy is during your Medigap Open Enrollment Period, when you can buy any Medigap policy sold in your state, regardless of your health conditions. This six-month window begins the month you turn 65. If you miss the enrollment period and try to apply for Medigap coverage later, you may be required to meet the insurance company’s underwriting requirements for approval and could possibly be charged a higher monthly premium. Some states, including California, Oregon, Idaho, Illinois, Nevada, and Louisiana, have special rules, such as the ‘Birthday Rule’, that allow you to change certain Medigap plans without health questions each year. These rules vary by state, so our licensed agents can explain if they apply to you

Our licensed Medicare experts offer free, personalized guidance to help you compare and enroll in the plans that best fit your healthcare needs and budget.