Medicare Supplement Insurance plans help fill “gaps” in Original Medicare and are sold by private companies. Original Medicare pays for much, but not all, of the cost for covered health care services. A Medicare Supplement Insurance (Medigap) policy can help pay some, or all of the remaining health care costs, like coinsurance, copayments, and deductibles. You must have Medicare parts A&B and continue to pay your Medicare part B premium. You pay a private insurance company a premium and in return, they help pay coinsurance and copayments left over by Medicare.
Medigap policies are guaranteed renewable even if you have health problems. This means the insurance company cannot cancel your Medigap policy as long as you pay the premium. A Medigap policy only covers one person. If you and your spouse both want Medigap coverage, you’ll each have to buy separate policies.
Medigap plans do not supplement Medicare Advantage plans, only Original Medicare. Supplements do not cover prescription drugs, for that you need to buy a separate prescription drug plan. Medigap policies generally do not cover long-term care, vision or dental care, hearing aids, or private-duty nursing.