What is Medigap commonly known as?

Medigap, also known as Medicare Supplement Insurance, is commonly referred to as Supplemental Insurance. This type of insurance is designed to help cover some of the healthcare costs that Original Medicare does not fully pay for, such as copayments, coinsurance, and deductibles. Essentially, it fills in the gaps in coverage provided by Medicare parts A and B, making it a crucial element for many Medicare beneficiaries who want to minimize their out-of-pocket expenses.

The term "Supplemental Insurance" effectively captures the purpose of Medigap policies, as they serve to supplement the existing coverage provided by Medicare. These policies can vary in cost and benefits but generally offer standardized coverage options.

In contrast, other options like Medicare Advantage refer to a different type of health plan that includes both Medicare Part A and Part B benefits and may provide additional services, while Medicare Secondary Payer relates to situations where another health insurance plan pays first before Medicare steps in. Primary Insurance denotes the main insurance a person holds, which is typically not how Medigap is classified, as it is intended to work alongside Medicare rather than replace it.