Medigap (Medicare Supplement) Plans

Medigap plans are designed to help cover the “gaps” in Original Medicare (Parts A and B), such as copayments, coinsurance, and deductibles. There are several standardized Medigap plans, identified by different letters (such as Plan G, Plan N, and others). The most comprehensive option sold to new beneficiaries today is Plan G, which covers almost all out-of-pocket costs except the Medicare Part B annual deductible.

Your best opportunity to enroll in a Medigap policy is during your unique Medicare Supplement Open Enrollment Period—a one-time, six-month window that starts when you are both 65 or older and enrolled in Medicare Part B. During this period, you cannot be denied coverage, and you can choose from any Medigap plan available in your state regardless of your health history. In most states, if you try to switch or enroll in a different Supplement plan after this open enrollment window, you’ll likely go through medical underwriting, which means you may be charged higher premiums or denied coverage based on your health.

Medigap plans are required by federal law to be standardized—meaning a Plan G from one insurance company must offer the exact same basic benefits as a Plan G from another. However, monthly premiums can vary widely between insurers. 

It’s important not to simply choose the lowest-cost plan, as premiums can increase over time and the lowest-cost company today may not offer the best long-term value. Working with an experienced, knowledgeable agent can help you compare your options and find a plan that balances cost and stability.