Why Should I Buy A Medigap Policy? 
A Medicare Supplement or Medigap policy is one very important option for people on Medicare . The main job of a Medigap plan is to act as a stop-loss policy for standard Medicare A and B. For someone with only standard Medicare , there is no maximum out of pocket amount that you can spend on your medical treatment . For instance , if you have a procedure that costs $ 250,000 , you would owe $ 50,000 . With a Medigap policy , that amount would be reduced and max out at a certain point . Depending on your health , your finances , and how much of a loss you 're willing to deal with , different Medigap policies -LRB- or Medicare Advantage policies -RRB- fit best for different people . Talk to a independent broker licensed in your state about your specific situation . 