Medicare is a federal program that provides individuals 65 years or older with healthcare coverage at a small cost. Original Medicare coverage is broken into two parts-Part A and Part B-and is accepted by nearly every doctor and hospital in the country. Medicare Part A covers inpatient or hospital stays while Part B covers outpatient or medical care.

Together, Part A and B cover about 80% of the typical healthcare costs seniors face-leaving a few significant gaps in coverage. Medicare Supplement (Medigap) plans are supplemental policies designed to help extend coverage, lessen costs, and ultimately give beneficiaries peace of mind at all times.