Supplemental Medicare, or Medigap, is a plan sold by private insurance companies to fill in the coverage gaps and deductibles that Original Medicare does not cover. For instance, if Medicare covers 80 percent of a doctor’s visit, Medigap will cover the remaining 20 percent in most plans. With Supplemental Medicare, there is little additional cost to you for health care beyond your premium.
Medigap policies are available to anyone enrolled in Part A and Part B (hospital and medical insurance) of Medicare. Open enrollment, a time frame in which you cannot be declined coverage, begins when you first enroll in Part B or turn 65. This six-month window is the best time to purchase your Medigap policy.
It is important to remember that Medicare does not completely cover your health care costs. A supplemental plan ensures a broader range of coverage so you do not have to pay out-of-pocket with each doctor visit. A low monthly premium will give you peace of mind as your need for health care grows.