Medicare Supplements, also known as Medigap, are private insurance plans offered by private insurance companies and are standardized by the federal government.
These plans help cover some of the out-of-pocket costs associated with Original Medicare, such as:
- Copayments
- Coinsurance
- Deductibles
Medicare Supplements only work with Original Medicare (Part A and Part B) and cannot be used with Medicare Advantage plans.
While they may have a higher monthly premium, they can provide significant cost savings for individuals with high healthcare expenses.
Overall, Medicare Supplements are a valuable option for individuals looking to supplement their Original Medicare coverage and reduce their out-of-pocket expenses.
