Why Were Medigap Plans Implemented?

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   Everett Young

   Everett Young, CLU, Delaware Valley, Pennsylvania

   Medigap policies came into being because Medicare doesn't cover everything. And what it does cover, it does so with deductibles and co-pays. The deductible for a hospital pay is over $1200/stay. The co-pays for physicians services and tests are about 20%. Medigap plans came into being to protect the consumer from high unexpected out-of-pocket costs.

   Answered on December 1, 2014

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