Medicare supplement insurance policies, commonly called Medigaps, are health insurance policies that offer standardized benefits to work with Original Medicare (not with Medicare Advantage). They are sold by private insurance companies. If you have a Medigap, it pays part or all of certain remaining cost-sharing “gaps” that remain after Original Medicare pays first (see question How Does a Medigap Work With Original Medicare?). Medigaps may cover outstanding deductibles, coinsurance charges, and copayments. Medigaps may also cover health care costs that Medicare does not cover at all, like care received when travelling abroad. Remember, Medigaps only work with Original Medicare. If you have a Medicare Advantage Plan, you cannot buy a Medigap.
Depending on where you live, you have up to 10 different Medigap policies to choose from: A, B, C, D, F, G, K, L, M, and N (policies in Wisconsin, Massachusetts, and Minnesota have different names). Each policy offers a different set of standardized benefits, meaning that policies with the same letter name offer the same benefits (see question What Costs Do Medigaps Cover?). However, premiums can vary from company to company (see question How Much Do Medigaps Cost?).
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