noun
- Plural of Medigap; supplemental health insurance policies sold by private insurers to cover costs not paid by Medicare, such as copayments, coinsurance, and deductibles.
Usage: Also called 'Medigap insurance' or 'supplemental Medicare insurance'; U.S. healthcare context; Typically capitalized as 'Medigaps' when referring to the insurance product
Examples
- Many retirees purchase medigaps to reduce their out-of-pocket medical expenses.
- Medigaps are standardized plans labeled A through N, making it easier to compare coverage options.
- She enrolled in one of the available medigaps shortly after turning 65 and becoming eligible for Medicare.
- Different medigaps offer varying levels of coverage for deductibles and copayments.
- Insurance companies compete to offer the most affordable medigaps in the marketplace.