Medigap policy

A Medigap policy, also known as Medicare Supplement Insurance, is a private insurance policy designed to help cover out-of-pocket healthcare costs not covered by Original Medicare (Parts A and B). Medigap policies are sold by private insurance companies and offer various standardized plans labeled with letters (e.g., Plan A, Plan B, etc.), each providing different levels of coverage. These policies may cover expenses such as deductibles, coinsurance, and copayments, providing beneficiaries with greater financial protection and peace of mind. Medigap policies work alongside Original Medicare to help fill gaps in coverage, allowing beneficiaries to access the healthcare services they need without facing high out-of-pocket costs. It’s important for beneficiaries to review their Medigap options carefully to find the policy that best meets their healthcare needs and budget.