Original Medicare covers a lot — but not all — of your medical costs. Medigap plans help pay the deductibles, copayments, and coinsurance left behind, so a hospital stay or major treatment doesn’t become a financial emergency.
A Medicare Supplement plan is sold by a private insurer and works alongside — not instead of — Original Medicare Part A and Part B. Medicare pays its share of approved costs first, then your Medigap plan pays some or all of the remainder, depending on the plan you choose.
Medigap plans are standardized by the federal government, which means a Plan G from one company covers the same benefits as a Plan G from another — the difference is usually price and customer service. Common plans include Plan G and Plan N, which are the most popular options among people newly eligible for Medicare, since Plans C and F are no longer available to those who became eligible on or after January 1, 2020.
Your best window to buy a Medigap policy is the 6-month period that starts the month you're both 65 or older and enrolled in Part B. During this window, insurers must sell you a policy regardless of health conditions. Outside that window, you may be subject to medical underwriting in most states.
