What is the primary goal of a Medicare Supplement Insurance plan?

The primary goal of a Medicare Supplement Insurance plan is to fill the gaps in Medicare coverage. Medicare, while it provides essential health coverage for individuals aged 65 and older, does not cover all medical expenses. This leaves beneficiaries responsible for certain out-of-pocket costs such as copayments, coinsurance, and deductibles.

Medicare Supplement plans, often referred to as Medigap plans, are designed specifically to help cover these additional costs that Medicare does not pay. By offering various levels of coverage, these plans can significantly reduce the financial burden on Medicare beneficiaries, ensuring they have broader access to necessary healthcare services without incurring unsustainable expenses.

While it may seem beneficial to have complete coverage or to limit out-of-pocket expenses in private health plans, a Medicare Supplement policy does not replace Medicare coverage nor does it cover all medical costs entirely. Its focus is on supplementing the existing Medicare benefits to enhance the overall coverage provided to beneficiaries.