There are pros and cons to buying so-called Medigap coverage, and it can depend on how much medical care and services you anticipate needing. They cover all or nearly all of the out-of-pocket costs left over by Part A and Part B, but they don’t offer Part D coverage.

Obviously, buying a Medigap policy will mean additional costs. If you have the means and you’re looking to extend your medical insurance to areas not covered by Medicare Part A and B (original Medicare), it might be a good option.

Like Part C, it is acquired through a third party company approved by Medicare. Unlike Part C, it won’t offer prescription coverage (Part D). If you already have Medicare Part C, also called Medicare Advantage, you cannot have a Medigap plan: you can only have one or the other.

The many types of Medigap policies fall into the categories of F, G, K, and L, but this list changes as some are not sold any longer. They are categorized based on which copays and deductibles they cover.

Before you make any decisions, of course, make sure to study the subject in more detail, because there are pretty intricate interactions between the different health insurance systems, and a mistake could definitely cost you.

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