Medicare Supplement Plans Explained
Medicare Supplement Plans Explained
What are Medigap plans and why do they matter?
“An ounce of prevention is worth a pound of cure.” — Benjamin Franklin
If you've chosen Original Medicare (Parts A & B), you're off to a solid start. But here’s the catch: Original Medicare only covers about 80% of your medical costs, leaving you responsible for the rest—with no annual out-of-pocket limit.
That’s where Medicare Supplement plans, also called Medigap, come in. These plans are designed to fill in the financial gaps and give you peace of mind when the unexpected happens.
Let’s break down how they work, what they cover, and how to choose the right one for your needs.
What Is a Medicare Supplement (Medigap) Plan?
Medigap plans are private insurance policies that work alongside Original Medicare. They help pay for the things Medicare doesn't cover, such as:
Part A and Part B deductibles
Copayments and coinsurance
Emergency healthcare while traveling abroad
Extended hospital stays
You must have Medicare Parts A & B to be eligible for a Medigap plan.
Why Do Medigap Plans Matter?
Without supplemental coverage, a major hospital stay or surgery could leave you paying thousands out of pocket. Since Original Medicare has no cap on what you could owe, Medigap becomes essential protection—especially if:
You have chronic conditions
You travel frequently within the U.S.
You prefer to see specialists without referrals
You want predictable healthcare costs
How Are Medigap Plans Structured?
Medigap plans are standardized by the federal government and labeled A through N. This means:
✅ Every Plan G from any company offers the exact same benefits
❌ Prices and customer service can vary significantly by insurer
Popular plans include:
Plan G: Covers everything except the Part B deductible
Plan N: Lower premiums but includes small copays and doesn’t cover Part B excess charges
High-Deductible Plan G: Lower monthly premiums with a higher annual deductible (great for healthy retirees)
What Do Medigap Plans Not Cover?
While they help with out-of-pocket costs from Original Medicare, Medigap does not cover:
Prescription drugs (you’ll need a Part D plan)
Dental, vision, or hearing
Long-term care (nursing homes)
Private-duty nursing or personal care services
You can pair a Medigap policy with other standalone plans to create complete protection.
Medigap vs. Medicare Advantage
FeatureMedigapMedicare Advantage (MAPD)Network restrictionsNone (see any Medicare provider)Usually restricted to a networkReferrals requiredNoOften yes (for specialists)Monthly premiumHigherOften lower or $0Out-of-pocket predictabilityVery highCan vary based on plan usageCoverage while travelingNationwide + some foreign travelEmergency only outside plan’s area
If you value provider freedom and predictability, Medigap is a great option.
When Can You Enroll in Medigap?
The best time to enroll is during your Medigap Open Enrollment Period:
It lasts 6 months starting the month you turn 65 and are enrolled in Part B
During this window, you can’t be denied coverage or charged more for health conditions
After this window, you may be subject to medical underwriting in most states.
How KEyO Insurance Services Helps You Choose
At KEyO, we help you compare every Medigap plan available in your area—across multiple carriers—so you get the best price for the same benefits. Our advisors walk you through the fine print, handle your applications, and coordinate your coverage with Part D and any supplemental benefits you need.
With Trusted Care. Tailored for You., KEyO makes choosing Medigap simple, smart, and secure.
Final Thought:
If you want a retirement with fewer surprises and more freedom, a Medicare Supplement plan might be the smartest investment you make. Let KEyO help you choose the plan that gives you confidence for the road ahead.
