Which government agency regulates Medicare Supplement Insurance plans?

The Centers for Medicare and Medicaid Services (CMS) is responsible for regulating Medicare Supplement Insurance plans. This agency oversees the implementation of various health-related programs and ensures that Medicare operates effectively, maintaining standards for Medicare Advantage plans and Medicare Supplement plans specifically. CMS sets the rules that insurance companies must follow when they offer supplemental policies to Medicare recipients, which are designed to cover costs not fully paid by Medicare itself, such as deductibles, copayments, and certain services.

The other agencies mentioned are not involved in the regulation of Medicare Supplement Insurance plans. The National Institutes of Health (NIH) primarily focus on biomedical and public health research, while the Federal Trade Commission (FTC) is involved more with protecting consumers and competition in the market, rather than insurance-specific regulations. The Social Security Administration (SSA) administers social security programs but does not regulate insurance plans. Thus, knowing that CMS has the authority in this area helps clarify its central role in managing Medicare-related programs.