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1.
A Medigap policy is _______.
Purchased from a private insurance company to help cover out-of-pocket expenses not covered by Medicare. Medigap is a supplement, not an alternative to Medicare, and is not sold by the government.
2.
Which part of Medicare is funded by tax revenue?
Part A. Part A, which covers inpatient care, is funded by a 2.9% payroll tax. The others are funded primarily by Medicare enrollees themselves.
3.
Medicare Part A covers _______.
Inpatient hospital care. Part A covers this as well as skilled nursing facilities, hospice, and home health care.
4.
What is the risk of buying a Medigap policy after the open enrollment period for it has ended?
The insurance company is allowed to charge you more if you have health problems. This is why it is best to buy during open enrollment.
5.
Medigap policies help pay Medicare coinsurance, copayments, deductibles, and a portion of basic living expenses.
False. These policies help pay coinsurance, copayments, and deductibles, but not living expenses.
