What Is Medigap Insurance?

Medicare supplemental insurance, better known as medigap insurance, is designed to help medicare recipients have the complete and fair access to healthcare that they deserve.

Medicare is one of the United States’ largest and most robust public programs, with over 44 million enrollees- that’s over 15% of the US population. It is a federal health program that allows people over the age of 65, as well as a select group of others to access substantial medical coverage. The program as a whole helps cover the medical costs that tend to be most needed by the senior population, such as home health care, nursing home stays, prescription drugs and more.

Medicare is like any other health insurance in that it doesn’t cover everything. In situations where Medicare doesn’t cover all costs, private medicare supplemental insurance– which is also popularly known as “medicare supplements” or “medigap insurance”- helps fill in the gap and pays what medicare doesn’t pay.

What Does Medigap Insurance Cover?

The basic benefits of medigap coverage are that they cover “remaining” costs that insurance plans typically don’t cover, such as deductible payments, coinsurance, and copay. Some medicare supplements also cover other more specialized services that medicare doesn’t cover, such as international travel.

What Medicare Supplements Don’t Cover

Supplemental insurance typically does not cover the costs of dental care, vision care, hearing care, or private or long-term nursing. Coverage for these types of care can be found in other types of plans. In addition, supplemental insurance sold after 2005 does not include prescription drug coverage; someone interested in that will need to join a medicare part D plan, and will need to pay separately for that plan if it comes from the same insurance company as their supplemental insurance.

Also, there are several types of insurance that may seem similar to medigap insurance that aren’t medigap plans. Some examples include Medicaid, veterans’ insurance, insurance for long term care, Medicare Advantage plans, and others.

Is AARP Supplemental Insurance Any Good?

AARP supplemental plans are likely among the best-known supplemental health insurance plans, due to aggressive marketing from AARP and the public profile of the organization itself. However, there are other plans that offer the same or better benefits at better prices. The consumer ratings for AARP plans seem to tell the story- they tend to hover around the “average” to “just above average” territory.

HealthPlanOptionsToday can help you shop for other medigap plans, and is a one-stop-shop for finding a variety of health insurance options. Call their hotline at (866) 542-0620 or click the button below to begin finding the plan that’s just right for you.