Final answer:
Medicare Supplemental Insurance, or Medigap insurance, is designed to fill the gaps in Medicare coverage such as deductibles, copayments, and coinsurance.
It offers additional coverage for out-of-pocket costs not paid for by Medicare Parts A, B, and D. However, it is important to remember that Medigap plans are sold by private insurance companies and should be used alongside original Medicare.
Step-by-step explanation:
Medicare Supplemental Insurance, also known as Medigap insurance, is designed to fill the gaps in Medicare coverage. Medicare has certain limitations and does not cover all healthcare expenses. These gaps include expenses such as deductibles, copayments, and coinsurance.
Medicare Supplemental Insurance plans offer additional coverage for these out-of-pocket costs. For example, if Medicare Part A covers hospital stays, Part B covers outpatient services, and Part D covers prescription drugs, a Medigap plan can help cover the costs not paid for by these parts of Medicare.
It's important to note that Medicare Supplemental Insurance is sold by private insurance companies and can vary in terms of coverage and costs. It is designed to work alongside original Medicare and cannot be used as a standalone insurance plan.