Medigap group finds price stability

Jesse Slome, AAMSI’s director, says the number of people with Medicare supplement insurance coverage, which is also known as Medigap coverage, has increased 7.5 percent in the past year, to 13.1 million.

Medigap policies pay most or all of the out-of-pocket costs left by the traditional Medicare Part A hospitalization and Medicare Part B physician services programs.

Policymakers designed the Medigap program in 1990. Issuers must offer products with benefits that that fit within one of the program’s standardized “letter plan” templates, and they must offer coverage to eligible people on a guaranteed-issue basis during a six-month open enrollment period that starts on the first day of the month on which individual is both 65 or older and is enrolled in Medicare Part B.

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