Medicare Supplement insurance plan helps cover the gaps in coverage that are left unpaid after traditional Medicare pays its portion of your health care expenses. For this reason, these plans are often referred to as Medigap plans. In order to purchase a Medicare supplement policy you must be enrolled already in Medicare Part A and Part B.

There are ten types of Medigap plans, each plan comes with its own set of benefits. The plans benefits are standardized by law; which means that the benefits of any plan you choose will be the same regardless of what company you purchase it from. However, it is important to note that the rates are not standardized so your premium will vary depending on the insurer you purchase it from.