A Medigap policy is a type of health care insurance that can be purchased from a private insurance company. It is intended to help cover the gaps that are left in coverage by the Medicare program. Many people purchase it as a supplement to their Medicare coverage in order to make sure that everything in your health care needs is covered.
If you lose your health care insurance plan that you have now it is possible to buy a Medigap policy. In most cases you will still be able to qualify for Medigap policies. The main reason why people lose their health care coverage is because they have lost their job. Many employers offer their employees the health care coverage that they are holding. If you lose your job then you often lose your health care coverage. However, this fact would have no impact on your qualifications for buying a Medigap policy. The private insurers want nothing more than to sell these policies to as many people as possible.
Many people want to know if it is important to purchase Medigap coverage if they already have Medicare. The answer for most people is that it is important. They want to make sure that everything possible is covered. There is no reason why you should have to worry about paying gigantic medical bills just because your Medicare does not cover everything that you need. The Medigap policy does cost some money for you each month, but it could save you a lot more if something terrible happens. Buying this kind of coverage is a help to your personal financial situation and your future monetary planning.