Which statement correctly describes Medigap plans?

Medigap plans, or Medicare Supplement Insurance, are specifically designed to help cover some healthcare costs that Original Medicare does not fully address, such as deductibles, copayments, and coinsurance. These plans are standardized across different states, meaning that each plan type (labeled A through N) offers a specific set of benefits regardless of which private insurance company sells it. This standardization allows consumers to make informed comparisons between different Medigap policies offered by various insurers.

Because Medigap plans are sold by private companies, they come with different pricing structures and customer service elements, which can vary. However, the fundamental coverage provided by each standardized plan remains consistent no matter whom you purchase it from. This feature is crucial for potential beneficiaries seeking to understand their options and costs related to Medicare.

Choosing this statement highlights the essential attributes of Medigap plans and their role within the Medicare program, emphasizing both their standardization and the role of private insurers in delivering these plans.