{"id":58246,"date":"2026-04-26T23:54:53","date_gmt":"2026-04-26T23:54:53","guid":{"rendered":"https:\/\/innodebt.com\/?p=58246"},"modified":"2026-04-26T23:54:55","modified_gmt":"2026-04-26T23:54:55","slug":"20-things-to-know-about-a-medigap-policy","status":"publish","type":"post","link":"https:\/\/innodebt.com\/?p=58246","title":{"rendered":"20 Things To Know About A Medigap Policy"},"content":{"rendered":"
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I stopped by a neighbor\u2019s house to see how things were going and the conversation quickly shifted to Medicare. (This seems to happen frequently). To address his concerns, I had to find out what type of Medicare coverage he selected. He said he has a Medicare drug plan. <\/p>\n

And my reply, \u201cThen you probably also have a Medigap policy.\u201d<\/p>\n

He said, \u201cA Medi-what?\u201d <\/p>\n

As I explained that, he had several more questions. And I know that, when one person has questions, there are many more who also have them. So here are 20 basic points to know about this important element of coverage. <\/p>\n

1. A Medigap policy is officially known as Medicare Supplement Insurance. This is coverage administered by private insurance companies. Every Medigap policy will have the name of the insurance company in the title. <\/p>\n

2. This is optional coverage that comes with an additional monthly premium.<\/p>\n

3. A beneficiary must be enrolled in Medicare Part A and Part B in order to purchase a Medigap policy.<\/p>\n

4. This is part of the Original Medicare package, an alternative to Medicare Advantage. After enrolling in Part A and Part B, an individual should purchase a stand-alone Part D prescription drug plan along with the Medigap plan. <\/p>\n

5. Those who elected Medicare Advantage are not eligible to purchase a Medigap policy. <\/p>\n

6. This policy helps pay some costs, such as deductibles, copayments, and coinsurance, for Medicare-covered services that would otherwise be the beneficiary\u2019s responsibility. In other words, this policy helps to cover the gaps in Medicare left by Part A and Part B.<\/p>\n

7. Any Medigap policy must cover four benefits:<\/p>\n