What Is Medigap Insurance? And Who Needs It?

By Albert Howard

Medicare Supplement policy, also known as Medigap, is worth knowing if Medicare covers you. Most recent Medicare subscribers barely know what Medigap insurance is. Others believe Medigap isn’t worth having if they are already covered under the Original Medicare.

But then the reality is that even Medicare subscribers need Medigap Insurance. If you are a new subscriber, then this article will be worth reading to the end. It will take an in-depth look at Medigap insurance by exploring how it works, its benefits, and how you can be eligible for it.

Let’s get started.

What Is Medigap?

In a nutshell, Medigap is an insurance cover created to supplement Medicare. It has various plans, as we’ll see later in this post. But then, Medigap provides more and better coverage than  original Medicare. Depending on your plan, it can cover a portion or all of your medical bills.

Even the best Medicare plans sometimes require users to pay from their pockets. The purpose of Medigap is to reimburse users for the money spent out of their pockets. This is especially when there are bills incurred from long-term medical care, visual, and even dental bills.

There are private companies accredited to offer Medigap. This allows potential users to choose and settle on the best provider. You can compare different companies and plans and then decide on one. Some factors to guide you include your financial situation and your needs.

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What Do Medigap Plans Cover?

It is worth noting that Medigap pays for the covers you already have. It doesn’t work on its own, so ensure you are on some Medicare plan. Medigap plans differ in what they cover. You need to know the copayments, coinsurances, or medical fees they can help you cover.

The best way to know this is by researching your location. Companies located in different places have their unique Medigap policies. If you’re in Florida, start by exploring the Medicare Supplement plan in Florida. This will help you know about what Mediplan can offer in your state.

Also, you can use the researched information to make various decisions. For instance, it can help you choose the best Medicare plans in Florida. We already mentioned that your Medigap insurance would mainly depend on the plan you select when starting with Medicare.

How Does Medigap Work?

If you understand a bit about Medicare, you already know what parts A and B entail. They are the basic coverage options for Medicare subscribers. Part C is the Medicare Advantage plan consolidating the benefits of A, B and D (prescription drug coverage) into one plan.

You might need Medigap if you choose Medicare part A or B. Also, it might prove helpful if you select part D, which only caters to the cost of prescription drugs. However, part C, Medicare Advantage, provides sufficient coverage and doesn’t require Medigap.

In short, you only become eligible for Medigap if covered under basic Medicare. Medigap bridges the gap left by basic Medicare plans because they don’t cater for all bills. It ensures you don’t go broke after using money from your pocket to pay any extra medical bills.

Who Needs Medigap Insurance?

You might be wondering if you’re among the people that need Medigap. Anyone that has Medicare coverage needs Medigap insurance. Everyone needs peace of mind, especially when they’re ailing. This makes it critical to consider having Medigap insurance as cover.

Therefore, you cannot say that Medicare isn’t for you. This is unless you are on the Medicare Advantage plan, where you enjoy more than basic coverage. Otherwise, please do not overlook the need for Medigap insurance because it will save you so much in medical costs.

Why Do You Need a Medigap Plan?

We have already provided a few reasons why Medigap insurance is vital. But investing in Medigap is an excellent idea because Medicare doesn’t provide sufficient medical coverage. It would be best if you found a way to cater to the extra bills it doesn’t cover.

If Medicare were a blanket cover, you wouldn’t need to subscribe to Medigap. However, the gaps Medicare leaves make it critical to find an alternative. That’s why you should think about having Medigap. If you fall seriously ill, you can be sure that all your expenses will get covered and paid.

How Much Do Medigap Plans Cost?

Various factors determine the cost of Medicare plans. However, the policy you take is the main factor that determines the cost. The policy options available include:

  • Community-rated policies – These charge fixed monthly premiums; they don’t consider age.
  • Issue age-related policies – Premiums for these depend on your age when you purchased the policy.
  • Attained age-rated policies – Premiums increase as your age increases. They become expensive as you grow older.

So, how much do Medigap plans cost?

There are no fixed costs when it comes to Medigap. The costs depend on the plan you choose and many other factors. Thus, you’ll need to speak to your Medigap provider to be sure about costs.

When Can I enroll in Medigap?

You have the freedom to choose when to enroll in Medigap. You can consider enrolling during the initial period that starts immediately when you turn 65 years old. However, you can do it anytime between three months before and after your 65th birthday.

You won’t get locked out if you don’t enroll during this initial period. You can enroll after attaining 65 years in an open enrollment period. If you already have enrolled in part B, the open enrollment period will run for six months, giving you enough time to enroll.


We cannot exhaust everything about Medigap insurance in one blog post. But at least you have a hint on what Medigap insurance is. You can now differentiate it from Medicare and know why it is worth taking. Besides, we have looked into how much Medigap plans cost and how to enroll.

What’s left is to decide whether Medigap will meet your needs. The fact that it could pay all your bills that Medicare doesn’t cover means it won’t disappoint you. You only need to choose the plan that best fits your needs. Therefore, take your time to shop around for the best plan.

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