Understanding Medigap
Original Medicare (Parts A & B) doesn't cover all costs. Medicare Supplement Insurance (Medigap) fills the gaps, covering copays, coinsurance, and deductibles. Sold by private insurers, these plans provide predictable out-of-pocket costs.
Plan Types Available
Plans A-N available in most states. Plan F: Most comprehensive (not available to new beneficiaries after 2020). Plan G: Best for new enrollees, covers everything except Part B deductible. Plan N: Lower premium, some copays, good value. Compare benefits carefully - same letter plans have identical benefits across insurers.
Cost Comparison Example
Plan G from Company A: $150/month premium, covers all deductibles/copays except Part B ($226). Plan G from Company B: $180/month premium, same coverage. Shop around - prices vary significantly for identical coverage. Average savings: $300-$600/year.
When to Enroll
Best time: Open Enrollment Period (6 months after turning 65 and enrolling in Part B). During this time: Guaranteed issue, No medical underwriting, No waiting periods. After OEP: May be denied or charged more based on health. Don't miss this window.
Key Takeaways
Compare plans during Open Enrollment. Prices vary by company for same coverage. Must have Medicare Part A and B. Medigap doesn't include Part D drug coverage. Buy from any company licensed in your state. Use our Medicare Supplement Calculator to estimate costs.