Medicare Supplements

Also called Medicare Supplement Insurance, Medigap is health insurance coverage provided by private companies designed to cover excess costs not covered by original Medicare.

'Medigap'Original Medicare, defined as parts A, B, and D, will not cover all expenses associated with an illness. Under original Medicare you would pay 20% of the cost of doctor visits and medical procedures regardless of the amount, a significant portion of your prescription medications, and at least $1,200 if admitted to a hospital. 

Medigap covers all or a portion of those extra charges depending on the coverage type. Although private insurance companies offer the coverage, the federal government requires companies to offer standardized policies. Your choices are Plans A, B, C, D, F, G, K, L, M and N.

Shopping for Medigap coverage is easier because you only have to compare price and the suitability of the company.