There are ten plans available to Medigap policyholders labeled A through J. These plans have core benefits that are available to the policyholder. In summary, payment for an extended stay in the hospital that the Medicare insurance did not cover would be covered by the Medigap insurance. This insurance would also pay all or the majority of the co-pay. It would cover preventive care, first 3 pints of blood, skilled nursing facility coinsurance and deductible Medicare. Supplemental insurance policies assist beneficiaries in paying for non-covered physicians and hospital expenses. The individual must be a member of the Medicare Plan A or B to meet eligibility requirements for Medigap.
Medigap coverages only work in conjunction with the original Medicare Plan which is allowable to pay deductibles and co-pays and coinsurance. Each plan differs in premiums. You have to check what requirements that you would need based on your medical status, wants and needs. Also you would have to seek the plan that fits into your income bracket. Some people may want to try to get the most coverage as they can possibly get, if it is in their means. Most people think that it is well worth it to have peace of mind in knowing they are covered against many possibilities. The only implications that I see in having a private company associated with a government insurance program would be that the private company would still have to follow the standards of the federal and state laws.