What is Medigap?
Medigap, also called Medicare Supplement insurance, is designed to work with Original Medicare. Depending on the policy, it can help pay certain out-of-pocket costs that remain after Medicare pays its share.
How it is commonly used
People often pair Original Medicare with a Medigap policy and a separate Part D prescription drug plan. This structure is different from Medicare Advantage.
Why timing matters
Your Medigap Open Enrollment Period generally begins when you are both age 65 or older and enrolled in Part B. During certain guaranteed-issue windows, your ability to buy certain Medigap coverage may be more favorable than it would be later.
Medigap is not the same as Medicare Advantage. You cannot use a Medigap policy to pay Medicare Advantage plan copays or deductibles.
Questions to review
- How important is broad provider access?
- Do you travel often?
- How do you want to balance premium and out-of-pocket exposure?
- Will you need a separate Part D plan?