KFF October 18, 2024
Health insurance through Medicare provides important financial protections for 67 million Americans. However, people with Medicare can face substantial cost-sharing requirements for Medicare-covered services, and unlike most health insurance policies, Medicare has no limit on out-of-pocket spending. Many Medicare beneficiaries have modest incomes and little savings to draw on to pay for expensive medical care, and medical debt is a concern for more than one in five (22%) older adults. In light of these facts, the Medicare supplement insurance market, also known as Medigap, plays a key role in helping beneficiaries afford medical care by limiting their exposure to catastrophic out-of-pocket medical costs.
This brief presents facts about Medigap, including the characteristics of Medicare beneficiaries with a Medigap policy, variation...
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