Why Do I Need Medigap Insurance?

  1. 12689 POINTS
    Ted Ratliff
    Owner, SFS Associates,
    Medicare was never meant to pay the entire bill, it was designed to offer assistance to seniors not covered by other insurance. There is no maximum out of pocket limit, which means you can actually owe thousands of dollars in deductibles and coinsurance. Medigap picks up those deductibles and coinsurance.
    Answered on September 25, 2014
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  2. 11783 POINTS
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    Larry GilmorePRO
    Agent Owner, Gilmore Insurance Services, Marysville, Washington State
    Why do I need Medigap Insurance? Well, you don't, but then you bear the risk of unlimited out of pocket costs for the things that aren't covered by part A or B. As with any insurance, the need is based upon the risk of loss. If you can absorb the potential unlimited loss, then no, you wouldn't "need" a Medigap plan.
    Answered on October 16, 2015
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