What type of private insurance covers cost-sharing amounts under Medicare?

Medicare Supplement insurance, often referred to as Medigap, is specifically designed to cover cost-sharing amounts under Medicare. This type of private insurance helps to pay for out-of-pocket expenses that Medicare does not fully cover, such as co-payments, coinsurance, and deductibles. By filling in these gaps, Medicare Supplement policies allow beneficiaries to manage their healthcare expenses more effectively and provide broader access to necessary medical services.

On the other hand, Medicare Advantage plans and Medicare Prescription Drug Plans serve different roles. Medicare Advantage plans provide an alternative to original Medicare by offering a bundled plan that may include additional benefits but does not specifically cover the cost-sharing amounts directly, as they operate under different rules. Similarly, Medicare Prescription Drug Plans focus solely on covering prescription medication costs, rather than addressing the cost-sharing associated with Medicare's medical coverage. Medicaid, while it helps low-income individuals with healthcare costs, is a separate program from Medicare and is not specifically tied to cost-sharing for Medicare beneficiaries.