If you're on traditional Medicare, you already know the importance of having a Medigap plan. Medigap is private supplemental insurance that helps fill gaping holes in traditional Medicare's government-administered coverage, like the $1,676 Part A deductible for hospital care or Part B coinsurance for doctor services, typically 20% in addition to this year's $257 Part B deductible.
There are 10 types of Medigap plans, each labeled by a letter from A to N, and every plan with the same letter has identical benefits, even if the insurer is different. But the monthly premiums can be worlds apart. Depending on the insurer, a 65-year-old male in Florida could pay anywhere from $237 to $409 a month for Medigap Plan G, even though the coverage is identical.
