What does Medigap Insurance primarily provide?

Medigap Insurance, also known as Medicare Supplement Insurance, is designed to fill the gaps in coverage provided by Medicare. This type of insurance helps pay for costs that Medicare does not cover, such as deductibles, copayments, and coinsurance. By providing supplemental coverage to Medicare, Medigap ensures that beneficiaries have additional financial protection against healthcare expenses.

The significance of Medigap lies in its role in helping seniors and certain disabled individuals manage out-of-pocket costs associated with their Medicare benefits, thereby making healthcare more affordable for them. This is particularly important given that Medicare does not pay for all health services or provide free healthcare coverage, nor does it cover long-term care services or offer exclusive insurance for veterans. Medigap policies are standardized and regulated by the federal government, ensuring that beneficiaries receive reliable supplemental coverage.