What is Medicare Supplement Insurance (Medigap Policy)?
Medicare Supplement Insurance or a Medigap insurance policy helps fill "gaps" or makes some payments that Original Medicare does not cover and is sold by private insurance companies. Original Medicare pays for much, but not all, of the cost for covered health care services and supplies. A Medicare Supplement Insurance (Medigap) policy can help pay some of the remaining health care costs, like:
- Copayments
- Coinsurance
- Deductibles
Medigap Policies Don't Cover Everything
Medigap policies generally don't cover long-term care, vision or dental care, hearing aids, eyeglasses, or private-duty nursing. Part D Prescription Drug is also Not included with a Medicare Supplement.
Medicare Advantage Part C Plan is not a Medicare Supplement or Medigap Policy
Some types of insurance aren't Medigap plans, they include:
Medicare Advantage Plans (like an HMO, PPO, or Private Fee-for-Service Plan)