What is a Medicare Supplement ("MediGap") Insurance Policy?

A Medicare Supplement insurance policy is sold by private companies, can help pay some of the health care costs that Original Medicare doesn’t cover, like co-payments, coinsurance, and deductibles.

If you have Original Medicare and you buy such a policy, Medicare will pay its share of the Medicare-approved amount for covered health care costs. Your Medicare Supplement  policy pays its share.

A Medicare Supplement policy is different from a Medicare Advantage Plan policy. Medicare Advantage plans are ways to get Medicare benefits–and often more, while a Medicare Supplement policy only supplements the payment for your Original Medicare benefits.
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What you need to know about Medicare Supplement policies
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You must have Medicare Part A and Part B:
  1. You pay the private insurance company a monthly premium for your Medicare Supplement policy in addition to the monthly Part B premium that you pay to Medicare.
  2. A Medicare Supplement policy only covers one person. If you and your spouse both want Medigap coverage, you’ll each have to buy separate policies.
  3. You can buy a Medicare Supplement policy from any insurance company that’s licensed in your state to sell one.
  4. Any standardized Medicare Supplement policy is guaranteed renewable even if you have health problems. This means the insurance company can’t cancel your Medicare Supplement insurance policy as long as you pay the premium.
  5. Medicare Supplement policies sold after January 1, 2006 aren’t allowed to include prescription drug coverage. If you want prescription drug coverage, you can join a Medicare Prescription Drug Plan (Part D).
  6. It’s a violation for anyone to have a Medigap policy and a Medicare Advantage plan also, unless you’re switching back to Original Medicare.
  7. If you have a Medicare Advantage Plan, you can switch to a Medicare Supplement policy (without health questions if done in the first 12 months), but make sure you can leave the Medicare Advantage plan before your Medicare Supplement insurance policy begins.