Medigap, also known as Medicare Supplement Insurance, does not cover everything when it comes to medical expenses. The policies help to pay for certain costs that Original Medicare does not cover, such as deductibles, coinsurance, and copayments.

Elder figuring out how much money he can save with Medigap.
Medigap policies are designed to help pay for certain costs that Original Medicare does not cover.

Medigap policies, however, do not cover things like elective surgeries, long-term care, or private-duty nursing. Almost all Medigap will not cover dental care, vision care or hearing aids (click here to learn about Extra plans that can include dental, vision and/or hearing coverage).

Additionally, Medigap policies do not insure prescription drugs, as this falls under the coverage of Medicare Part D. Most Medigap policies available to those new to Medicare will not cover the Medicare Part B deductible of $240.

While Medigap policies may not cover everything, they can be a valuable tool for helping to manage healthcare costs. By filling in the gaps in Original Medicare coverage, Medigap policies can help enrollees avoid unexpected expenses and ensure they have access to the healthcare they need. (Source)

Does Medigap Cover Anything?

Yes. As we explained it pays some or all of the costs where Medicare passes fees on to you. 

Here are some of the things many Medigap plans will cover:

  1. Medicare Part A deductibles, coinsurance, and hospital costs: Medigap policies can help with the coinsurance and hospital costs that Original Medicare does not include after beneficiaries have reached their Part A deductible. The Part A deductible is $1,632.
  2. Medicare Part B coinsurance and copayments: Medigap policies can help cover the coinsurance and copayments that beneficiaries would normally have to pay under Original Medicare for doctor visits, outpatient care, and other medical services. Medigap plan F also covers the Medicare Part B deductible but that plan is not available to those new to Medicare before Jan 1, 2020.
  3. Blood transfusions: Medigap policies can help with the cost of the first three pints of blood each year.
  4. Skilled nursing facility care coinsurance: Medigap policies can help cover 100% of the coinsurance costs for skilled nursing facility care for 100 days.
  5. Part A hospice care coinsurance or copayment: Medigap policies can help cover the coinsurance or copayment costs for hospice care under Medicare Part A.
  6. Foreign travel emergency coverage: Some Medigap policies can provide coverage for emergency medical care that beneficiaries may need while traveling outside of the United States. Plans that cover this benefit will pay 80% of cost up to $50K. 

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Can I quickly find out what’s covered?

Here is a good rule of thumb: With the exception of Foreign travel emergencies, tell yourself that “If Medicare doesn’t cover it, then Medigap will not pay for it either.” Conversely, if it is covered in part by Medicare, your Medigap plan can pay the remaining out-of-pocket costs passed on to you. Medigap plans can do a great job of protecting your wealth. 

Next Steps: The costs of each plan can vary depending on the insurance company, location, and other factors so get a Senior65.com instant comparison quote from top insurance providers here. There is no cost or hidden fee and you will see prices in less than 30 seconds. If you need help, call the team at Senior65.com at 800-930-7956.