What is a Medicare Supplement Insurance Plan commonly known as?

• A. Medicare Advantage
• B. Medigap
• C. Medicare Select
• D. Medicare Savings Program

Answer: (B)

Medicare Supplement Insurance Plans are commonly known as Medigap. This type of insurance policy is specifically designed to fill in the gaps left by Original Medicare (Parts A and B). These gaps can include deductibles, copayments, and coinsurance that Medicare doesn’t cover fully.

The name "Medigap" reflects the policy's purpose of "gapping" the coverage that Original Medicare does not provide. These plans are standardized across states, which means basic benefits are similar regardless of the insurer. Medigap plans can provide additional benefits for medical services that are not covered by Medicare, giving beneficiaries a more comprehensive coverage option.

Other options listed refer to different types of healthcare coverage or programs. Medicare Advantage is an alternative to Original Medicare that often includes additional benefits but is not a supplement plan. Medicare Select is a type of Medigap plan that requires members to use a network of doctors. Medicare Savings Programs help low-income individuals pay for Medicare premiums and cost-sharing but do not provide additional benefits or coverage.