Medigap insurance, also known as Medicare Supplement insurance, is designed to help cover the gaps in Original Medicare (Part A and Part B) coverage. While Original Medicare covers many healthcare services, it does not cover all expenses, such as deductibles, copayments, and coinsurance. Medigap insurance can help pay for some or all of these out-of-pocket costs.
The specific expenses that Medigap insurance pays for can vary depending on the plan you choose. There are 10 standardized Medigap plans, labeled A, B, C, D, F, G, K, L, M, and N. Each plan offers a different set of benefits, but all plans must cover certain basic benefits, including coverage for Part A coinsurance and hospital costs, Part B coinsurance or copayments, and the first three pints of blood. Some plans may also cover additional benefits, such as skilled nursing facility care coinsurance, Part A hospice care coinsurance or copayments, and foreign travel emergency coverage.
It's important to note that Medigap insurance does not cover prescription drugs. If you need prescription drug coverage, you will need to enroll in a separate Medicare Part D prescription drug plan.
To get more specific information about what expenses are covered by Medigap insurance, it's best to review the details of each plan and consult with a licensed insurance agent or contact the insurance company directly. They can provide you with the specific coverage details and answer any questions you may have about Medigap insurance.