What is Medicare Supplement Insurance also known as?

Medicare Supplement Insurance is commonly referred to as Medigap. This type of insurance is designed to fill the gaps in coverage that are not addressed by Original Medicare (Part A and Part B). It helps pay for out-of-pocket costs such as copayments, coinsurance, and deductibles. Medigap policies are sold by private insurance companies and are standardized across different states, meaning they all offer the same basic benefits regardless of the provider, though the costs may vary.

The other terms presented are distinct from Medigap: Medicaid is a separate program that provides health coverage for people with low income; Medicare Advantage is a type of private insurance plan that offers Medicare benefits through a managed care model, effectively bundling Part A, Part B, and often Part D; and Part D specifically refers to Medicare's prescription drug coverage. Therefore, the accurate identification of Medicare Supplement Insurance as Medigap is essential for understanding the types of coverage available to Medicare beneficiaries.