Medicare supplement insurance, also known as Medigap, is a type of private insurance that helps fill the gaps in coverage left by original Medicare (Part A and Part B).
Medicare supplement plans are sold by private insurance companies and are designed to work alongside Medicare to provide additional benefits and financial protection. These plans can help cover out-of-pocket expenses such as deductibles, coinsurance, and copayments not covered by Medicare.
Medicare supplement plans offer standardized coverage options labeled with letters (such as Plan F, G, or N), ensuring consistency in benefits across different insurance providers. By enrolling in a Medicare supplement plan, individuals can have greater predictability and financial security regarding their healthcare costs, allowing them to manage their medical expenses better and focus on their well-being.