What is Medigap?
A Medigap policy is a health insurance policy sold by private insurance companies to fill the gaps in Medicare coverage. As modified in 1992, Medigap consisted of 10 standard benefit packages, Plans A J, that covered patient costs such as deductibles and co-insurance amounts. In 2006, two new plans (K and L) were added to the list. As a result of the introduction of Part D, no new Medigap policies sold after January 1, 2006, can provide for prescription drug coverage. Individuals who were enrolled in Medigap plans that contained such coverage (plans H, I, and J) have the option of keeping these plans, although the drug coverage is eliminated if they opt to enroll in Part D.
