What is Medigap insurance, and who needs it?

• Medigap supplemental insurance policies are sold by private insurance companies to fill some of the gaps in medical expenses that Medicare Part A and Medicare Part B don't pay. Someone might be thinking about getting one of these medigap policies for the first time, either at age 65 or later. Or she might already have a policy but is thinking of changing to a different one that she's eligible for. In either case, you should know about some important differences among policies in order to make a good choice. • Medicare Part A and Part B together pay only about half of all medical expenses for seniors. Medigap insurance policies fill some of these gaps by covering some costs and services that Medicare doesn't. • A Medicare Part C managed care plan, also called Medicare Advantage, is another way to fill gaps in Medicare payments. If an older adult is enrolled in a Medicare Advantage managed care plan, she does not also need a medigap insurance policy. Does the government regulate what m ... more