What type of expenses do Medicare Supplement plans typically cover?

Medicare Supplement plans, also known as Medigap plans, are designed to help cover some out-of-pocket costs associated with Original Medicare. These costs commonly include Medicare coinsurance, copayments, and deductibles.

Coinsurance refers to the percentage of costs that beneficiaries are responsible for paying after Medicare has paid its share for covered services. Copayments are fixed amounts that beneficiaries may have to pay for specific services, such as doctor visits. Deductibles are the amount beneficiaries must pay out-of-pocket before Medicare begins to pay for covered services. Medicare Supplement plans are specifically crafted to reduce the financial burden of these types of expenses, making healthcare more affordable for beneficiaries.

Options like routine wellness checks are generally covered by Medicare itself and do not fall under the types of expenses Medigap plans address. Long-term care costs are not covered by Medicare or Medicare Supplement plans, as these typically require separate insurance or out-of-pocket payments. Prescription drug costs, while essential, are addressed by Medicare Part D rather than Medicare Supplement plans, which focus on costs directly associated with the benefits of Original Medicare. Therefore, the correct answer highlights the primary role of Medicare Supplement plans in managing out-of-pocket expenses related to Medicare-covered services.