Medicare Glossary

Gap Coverage

See Medigap / Medicare Supplement Insurance. Coverage that helps pay the out-of-pocket costs (gaps) not covered by Original Medicare, such as deductibles, coinsurance, and copays.

Also known as: Medigap, Medicare Supplement

Generic Drug

A prescription drug that has the same active ingredients, dosage, and effectiveness as a brand-name drug but is sold at a lower price after the brand-name patent expires. Generic drugs are typically in lower Part D tiers with lower copays.