What is the definition of Medigap (Medsup)?

Medigap or Medsup insurance is a type of insurance, which pays for the part of expenses not paid for by Medicare. This is a way for those who are covered under Medicare to receive more assistance, as Medigap Insurance works as a supplement to Medicare. This kind of insurance is not provided to those who are already covered with Medicaid.

For instance, if Medicare is now covering the cost of prescription drugs, Medigap will not pay for prescription drug coverage.

There are a variety of plans under medigap insurance. There are plans that pay for the co-payments required in Medicare. Co-payments are what the insurance would require that the insured patient will pay before the insurance payments start doing the payment. Other plans cover costs not covered with Medicare such as medical expenses incurred overseas (for medical emergencies only) or associated costs during home recovery.

• Insolvency
• Misstatement of Age or Sex Provision
• Modified Premium Policies
• Moral Hazard
• Comprehensive Coverage