Final answer:
The statement is false because while Medicare Parts A and B are regulated by CMS, MediGAP policies are regulated by state laws and federal regulations, not directly by CMS.
Step-by-step explanation:
The statement is False. While Medicare Parts A and B are regulated by the Centers for Medicare & Medicaid Services (CMS), MediGAP policies, which are also known as Medicare Supplement Insurance plans, are not regulated by CMS in the same way.
Instead, MediGAP plans are sold and administered by private insurance companies, although they are standardized and regulated by state laws and federal regulations to ensure consistency and consumer protection. So, while there is a level of regulation involved, it is not directly by CMS but rather under state jurisdiction and federal oversights, such as the federal Medicare statutes.