Medicare Supplement Insurance

What Does Medicare Supplement Insurance Mean?

Medicare Supplement Insurance is a policy that covers medical or health expenses not covered by Medicare. However, a Medicare policy is required to obtain this insurance. While Medicare is a government program, Medicare Supplement Insurance is offered by private companies.

It is also referred to as Medigap.

Insuranceopedia Explains Medicare Supplement Insurance

Medicare is a U.S. federal government health program designed for senior citizens aged 65 and older. It offers two types of policies: Medicare Part A, which primarily covers hospitalization, and Medicare Part B, which covers medical services such as doctor’s consultations. Only individuals who have either Medicare Part A or Part B are eligible for Medicare Supplement Insurance.

Medicare Supplement Insurance, commonly known as Medigap, typically covers expenses such as co-payments, deductibles, and healthcare services outside the U.S.

While Medigap policies are largely standardized across states, there are exceptions in Massachusetts, Minnesota, and Wisconsin:

• Massachusetts: Does not cover foreign travel emergencies, Part B deductibles, skilled nursing facility coinsurance, or inpatient hospital deductibles.
• Minnesota: Excludes coverage for foreign travel emergencies, usual and customary fees, Part B deductibles, and inpatient hospital deductibles.
• Wisconsin: Offers optional riders to supplement Medigap policies, covering items such as 50% of Part A deductibles, foreign travel emergencies, and Part B deductibles, among others.