Medicare is a valuable healthcare program for millions of Americans who are 65 years old or older. However, while Medicare covers many medical expenses, it doesn’t cover everything. That’s where a Medigap policy can come in handy. In this article, we’ll explain what a Medigap policy is and why you might need one.

What is a Medigap policy?

Medigap policies, also known as Medicare Supplement Insurance, are health insurance plans that are designed to fill in the gaps left by Medicare. Medicare Part A and Part B cover many healthcare expenses, but there are still some costs that you will need to pay out-of-pocket. Medigap policies can help cover those costs, such as deductibles, coinsurance, and copayments.

Medigap policies are sold by private insurance companies and are regulated by state and federal laws. There are ten standardized Medigap plans, each identified by a letter from A to N. Each plan offers a different set of benefits, and the costs of each plan can vary depending on the insurance company and where you live.

Why might you need a Medigap policy?

There are several reasons why you might want to consider getting a Medigap policy:

  1. To lower your out-of-pocket healthcare costs: As we mentioned earlier, Medicare doesn’t cover everything. If you have a Medigap policy, it can help cover some of the costs that Medicare doesn’t.
  2. To give you more healthcare choices: Medicare has a limited network of healthcare providers, and not all healthcare providers accept Medicare. With a Medigap policy, you may be able to see more healthcare providers.
  3. To provide peace of mind: Healthcare costs can be unpredictable, and having a Medigap policy can provide peace of mind knowing that you have additional coverage.

How to choose a Medigap policy

Choosing a Medigap policy can be overwhelming, but here are some things to keep in mind:

  1. Compare plans: There are ten standardized Medigap plans, each with its own set of benefits. Compare the plans to find the one that best fits your needs.
  2. Consider your healthcare needs: Think about the healthcare services you use most often and what healthcare services you might need in the future.
  3. Check the insurance company’s rating: You want to make sure that you choose an insurance company with a good rating. You can check the insurance company’s rating through resources like A.M. Best or Standard & Poor’s.
  4. Compare costs: Medigap policies can vary in cost depending on the insurance company and where you live. Compare the costs of different plans to find one that fits your budget.


A Medigap policy can be a valuable addition to your healthcare coverage if you are enrolled in Medicare. It can help lower your out-of-pocket healthcare costs, give you more healthcare choices, and provide peace of mind. When choosing a Medigap policy, compare plans, consider your healthcare needs, check the insurance company’s rating, and compare costs.