Report of Multiple Medicare Supplement Coverage in Force for Michigan Residents Form FIS-0308 - mich-2025

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(c) A Medicare supplement policy must provide that benefits designed to cover cost-sharing amounts under Medicare will be changed automatically to coincide with any changes in the applicable Medicare deductible, copayment, or coinsurance amounts. Premiums may be modified to correspond with such changes.
Supplemental insurance (Medigap): A Medigap policy provides insurance through a private insurance company and helps fill the cost-sharing gaps in Original Medicare, for instance by helping pay for Medicare deductibles, coinsurances, and copayments.
Approximately 10 percent of Medicare beneficiaries in 2019 had no supplemental coverage that would provide a cap in out-of-pocket costs for Part A and Part B services (). The remaining 90 percent of beneficiaries had varying sourcing and degrees of private or public supplemental coverage.
While Medicare provides essential services. It does not fully cover critical areas such as prescription drugs, long-term care, dental and vision care, and overseas medical expenses. These gaps can lead to significant out-of-pocket costs, creating financial strain for individuals and families.
The 2025 out-of-pocket (OOP) limits for Medigap plans K L are $7,220 and $3,610, respectively. These increases in the limits are based on estimates of the United States Per Capita Costs (USPCC) of the Medicare program developed by the Centers for Medicare Medicaid Services (CMS).
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0:57 2:20 Its the state that oversees the specifics. This includes licensing the insurers and agents who sellMoreIts the state that oversees the specifics. This includes licensing the insurers and agents who sell these plans. They also handle consumer complaints and questions about Medigap.
Medicare Supplement Insurance (Medigap) is extra insurance you can buy from a private insurance company to help pay your share of out-of-pocket costs in Original Medicare.

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