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Last Updated:
6/30/2010
WHAT IS A MEDIGAP POLICY AND WHAT DOES IT COVER?
A MEDIGAP POLICY
1. Fills the "gaps" in the Original Medicare Plan
2. Includes a set of benefits grouped into 1 of 10 standard plans called "A" through "J."
3. Is sold by a private insurance company
COVERAGE
Plan A is the "basic (core)" benefit package. Each of the other nine plans includes the basic package plus a different combination of additional benefits, such as foreign travel emergencies, at-home recovery, preventive care. These benefits are either not covered or not fully covered by Medicare. Plan J provides the most coverage of all the plans--Plan A, the least. Plans H, I, and J include some limited prescription drug coverage. Eligibility for Plans H, I, and J is not assured, however.
Medigap policies are "guaranteed renewable." This means that, as long as you pay your premium, policies are automatically renewed each year.
Insurance companies are not permitted to change the combination of benefits or the letter designations of any of the plans. Not all insurers offer all plans "A" through "J," however, and the costs vary among insurers even for the same standard plan.