Medigap (also medicare supplement insurance or medicare supplemental insurance) refers to various private health insurance plans sold to supplement medicare in the united states. Medigap insurance provides coverage for many of the co-pays and some of the co-insurance related to medicare-covered hospital, skilled nursing facility, home health care, ambulance, durable medical equipment, and doctor charges. Medigap’s name is derived from the notion that it exists to cover the difference or “gap” between the expenses reimbursed to providers by medicare parts a and b for the preceding named services and the total amount allowed to be charged for those services by the united states centers for medicare and medicaid services (cms).
Coverage that provides nursing-home care, home-health care, personal or adult day care for individuals above the age of 65 or with a chronic or disabling condition that needs constant supervision. Ltc insurance offers more flexibility and options than many public assistance programs.
A program managed by the social security administration that insures a worker in case of a mishap. Disability insurance offers income protection to individuals who become disabled for a long period of time, and as a result can no longer work during that time period. Employees who’ve paid the federal insurance contributions act (fica) tax for a certain amount of time, are eligible to receive the social security disability income insurance.