These plans are meant to help close the "gaps" that Original Medicare does not cover, so you can receive the entire spectrum of care you require without financial worry.

What Are Medicare Supplemental Insurance Plans?

Medicare Supplemental Insurance Plans, or Medigap policies, are provided by private insurers and supplement your Original Medicare. These policies cover extra expenses like:

Deductibles
Copayments
Coinsurance
Emergency care while traveling overseas

All plans are lettered to a standard (Plans A through N), each providing a different degree of coverage. Although all providers are required to provide the same standard benefit for a plan designation (e.g., Provider A's Plan G is identical to Provider B's Plan G), cost and quality of care can be widely disparate.

What Is the Best Supplemental Insurance for Medicare?

The best supplemental insurance for Medicare varies with your health requirements and financial objectives. Here is a brief overview of the most sought-after options:

Plan G: The most extensive to be made available for new enrollments. It pays for all except the Medicare Part B deductible.
Plan N: Provides lower premiums with a slightly higher out-of-pocket expense. Best suited for people who see doctors very rarely.
Plan F: Provides complete coverage of all gaps but only to individuals who were Medicare-eligible prior to January 1, 2020.

At the time of enrollment in a plan, factors such as monthly payments, frequency of visiting physicians, prescription requirements, and if you anticipate traveling abroad should be considered.

How to Select the Proper Medicare Insurance Plan

Selecting the most appropriate Medigap plan involves more than selecting the lowest-cost plan. You should:

Comparison of plans side-by-side using reliable sources such as Medicare.gov
Compare insurer ratings and customer feedback
Assessing your current and future well-being requires
Engage the services of a certified Medicare counselor to get customized guidance

Medigap plans do not cover prescription drugs, so you will also have to have a Medicare Part D plan for that.

Why Medigap Could Be the Best Investment in Your Health

While Medicare only offers you the bare minimum in terms of coverage, Medicare Supplemental Insurance Plans offer you peace of mind by lowering unexpected medical bills. Whether you're initially enrolling for Medicare or reconsidering coverage to add more benefits, selecting the correct Medigap plan could be the best decision you can make for your health and financial future.