Florida 2-20 General Lines Agent (Property, Casualty, Commercial Lines and Florida Law)Health InsuranceMedium
A Florida resident, age 68, is enrolled in Medicare Part A and Part B. They are considering purchasing a Medicare Supplement (Medigap) policy. Which of the following statements regarding Medigap policies is FALSE?
- AMedigap policies are designed to cover costs not covered by Original Medicare, such as deductibles and copayments.
- BA person must have Medicare Part A and Part B to be eligible to purchase a Medigap policy.
- CMedigap policies are intended to replace Original Medicare coverage and often include prescription drug benefits.
- DAll Medigap policies are standardized by federal law, identified by letters A through N.
Show answer & explanationAnswer & explanation
Correct answer: C. Medigap policies are intended to replace Original Medicare coverage and often include prescription drug benefits.
Medigap policies are designed to supplement, not replace, Original Medicare. They do not typically include prescription drug benefits; those are covered by Medicare Part D.
Why the other options are wrong
- A. This is a true statement; Medigap covers the 'gaps' in Original Medicare.
- B. This is a true statement; enrollment in both parts of Original Medicare is a prerequisite.
- D. This is a true statement; standardization helps consumers compare policies.
Medigap Policy Purpose
Medicare Supplement (Medigap) policies are private health insurance plans designed to cover out-of-pocket costs (gaps) left by Original Medicare (Part A and Part B).
- Supplements Original Medicare, does not replace it.
- Covers deductibles, copayments, and coinsurance.
- Standardized by federal law (Plans A-N).
- Does NOT include prescription drug coverage (that's Part D).
Memory trick: Medigap fills the holes, but won't replace the whole.