Medigap coverage is the official term for a Medicare Supplement; the two words are interchangeable. The name Medigap came about because this coverage helps “fill in the gaps” that original Medicare does not cover you for (including copays, deductibles, etc.).

Medigap policies are identified by letters A through N and are referred to as “Plan F,” “Plan G,” etc.

Medicare Supplements can only be obtained through a private insurance company. They are, however, all regulated by Medicare. This means that, although the coverage is through Medicare, Medicare sets guidelines that regulates and the coverages to make sure they are all “standardized.” Because they are standardized, there are no network restrictions.

Each standardized Medigap policy must offer the same basic benefits, no matter which insurance company sells it, the only difference is the monthly premiums that the policyholder pays. That means that a Plan G coverage with Company X that costs $100/month is the exact same coverage as a Plan G with Company Y, even though the policyholder with Company Y is paying $150/month.