A Medigap policy (also called Medicare Supplement Insurance) is a private insurance plan that helps cover the out-of-pocket costs that Original Medicare doesn't pay, like deductibles, coinsurance, and copayments. Since Original Medicare has no annual out-of-pocket maximum, a Medigap policy provides the financial safety net that prevents a serious illness from becoming a financial catastrophe.
Medigap policies are standardized by the federal government into lettered plans (A, B, C, D, F, G, K, L, M, N). Each letter plan offers the same benefits regardless of which insurance company sells it; a Plan G from one insurer covers exactly the same things as a Plan G from another. The only difference between companies is the premium price and customer service.
The most popular Medigap plans are Plan G and Plan N. Plan G covers essentially everything Original Medicare doesn't, minus the Part B annual deductible (which you pay first). Plan N has lower premiums but requires small copays for some office visits and ER trips that don't result in admission.
Timing matters: you have a six-month Medigap open enrollment period starting when you're 65 and enrolled in Medicare Part B. During this window, insurers must sell you any Medigap plan at the standard rate, regardless of your health. After this period, insurers can use medical underwriting, meaning they can charge more or deny you coverage based on health conditions.
Medigap policies work only with Original Medicare, not Medicare Advantage. If you choose Medicare Advantage, you don't need (and can't use) a Medigap policy. Medigap also doesn't cover prescription drugs; you'll need a separate Part D plan for that.
Medigap policies only work with Original Medicare. If you're currently on Medicare Advantage and want to switch to Original Medicare with a Medigap supplement, you can do so during the Annual Enrollment Period, but you may face medical underwriting for the Medigap policy outside your initial enrollment window.
During your six-month Medigap open enrollment period, which starts the month you turn 65 and are enrolled in Part B. During this window, you get guaranteed issue: no medical questions, no higher premiums based on health. After this period, insurers may charge more or deny coverage.
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