Medicare Supplement (Medigap)

What’s Medicare Supplement Insurance (Medigap)?

Medicare Supplement insurance (Medigap) is a insurance policy that helps fill “gaps” in original Medicare and is sold by private companies. Original Medicare pays for much, but not all of the cost for covered health care services and supplies. A Medicare Supplement insurance (Medigap) policy can help pay some of the remaining health care costs, like: co-payments, coinsurance and deductibles.

Some Medicare Supplement (Medigap) policies also cover services that original Medicare doesn’t cover like medical care when you travel outside the U.S. If you have original Medicare and you buy a Medicare Supplement policy, here’s what happens:

Medicare will pay its share of the Medicare-approved amount for covered health care costs. Then, your Medicare Supplement policy pays its share of deductibles, co-pays and coinsurance.

Things to know about Medicare Supplement policies:
You must have Medicare Part A and Part B.
A Medicare Supplement policy is different from a Medicare Advantage plan.  Those plans are ways to get Medicare benefits, while a Medicare Supplement policy only supplements your original Medicare benefits.
You can buy a Medicare Supplement policy from any insurance company that is licensed in Minnesota to sell one.
Minnesota is a standardized state. This means if you are comparing the same kind of plan (basic or extended basic), the only difference in the plan is the price and the name of the insurance company.
Medicare Supplements are guaranteed renewable even if you have health problems. This means the insurance company can’t cancel or change your benefits as long as you pay the premium.
Medicare supplements do not cover prescription drugs. If you want prescription drug coverage you will need to purchase a standalone prescription drug plan.

Medigap policies don’t cover everything

Medicare Supplement policies generally don’t cover long-term care, vision, dental care, hearing aids, eyeglasses, or private-duty nursing.