Medigap: A Necessary Supplement to Medicare?
With rising healthcare costs, Medigap provides coverage for deductibles and out-of-pocket expenses, offering peace of mind for Medicare beneficiaries.
- About 41% of Original Medicare beneficiaries had Medicare Supplement Insurance, or Medigap, in 2021, according to a February 2023 report summarizing enrollment data from AHIP, a national health insurance trade association.
- Medicare Part A has a deductible of $1,632 in 2024, which you owe before Medicare starts to pay for inpatient hospital care. Most Medigap plans cover the Part A deductible.
- After you’ve met your deductible, there are out-of-pocket costs for many Medicare services. All Medigap policies include at least some coverage for Part A and Part B coinsurance and copays.
- Unlike many other kinds of insurance, Medicare Part A and Part B don’t have maximum out-of-pocket caps. Buying a Medigap policy is one way to put a cap on your yearly costs.
- The best and easiest time to buy a Medigap policy is right as you’re turning 65. Your six-month Medigap open enrollment period starts when you’re 65 and enrolled in Medicare Part B.
Washington Post 
