What is Medigap Insurance and Why do I Need It?
Most Medicare recipients need additional coverage for the items that Medicare does not cover (gaps in coverage). Medigap insurance helps pay some of these health care costs (such as copayments, coinsurance, and deductibles) that Medicare won’t pay. These medicare supplement plans are sold by private insurance companies. Every Medigap insurance policy must follow Federal and state laws designed to protect you. Insurance companies can only sell you a “standardized” Medigap policy designated by letters A through N (non-inclusive). If you are in Original Medicare and you have a Medigap policy, Medicare will first pay its share of the Medicare approved amounts for covered health care costs, after that your Medigap policy pays its share.
