South Carolina Life and Health Practice Exam

What is one of the main goals of Medicare Supplement Policies?

1. To reduce the cost of insurance premiums

2. To eliminate the need for primary insurance

3. To cover additional healthcare expenses not covered by Medicare

4. To restrict access to certain medical services

The correct answer is: To cover additional healthcare expenses not covered by Medicare

One of the main goals of Medicare Supplement Policies is to cover additional healthcare expenses not covered by Medicare. These policies, often referred to as Medigap plans, are designed to fill the gaps in coverage that exist within Medicare. For instance, while Medicare Part A and Part B provide essential health coverage, they do not cover all healthcare costs, such as deductibles, copayments, and certain services. Medicare Supplement Policies provide financial protection by helping to cover these out-of-pocket expenses, allowing beneficiaries to manage their healthcare costs more effectively. This support is particularly important for older adults who may incur higher medical expenses as they age. The purpose of these policies is not to reduce premiums significantly or to eliminate the need for primary insurance. They also do not serve to restrict access to medical services; rather, they enhance access by alleviating some of the financial burdens associated with necessary healthcare. Thus, the focus on additional healthcare coverage reflects the essential role that Medigap plans play in supporting Medicare beneficiaries.