What type of insurance policy helps cover some or all of Medicare's deductibles and copayments?

Medicare supplement insurance, also known as Medigap, is designed specifically to help cover the out-of-pocket costs associated with Medicare, such as deductibles, copayments, and coinsurance. Medicare by itself may not cover all expenses incurred by its beneficiaries, leaving gaps that can lead to unexpected expenses.

Medigap policies help mitigate these financial burdens by paying for some or all of the costs that Medicare does not cover. This can be particularly helpful for individuals who use medical services frequently, as it reduces the overall financial impact of their healthcare expenses.

Options like Medicare Advantage, Medicaid, and disability insurance serve different purposes. Medicare Advantage plans are an alternative to regular Medicare and include additional benefits not found in traditional Medicare rather than filling the coverage gaps. Medicaid is a state and federal program providing health coverage to low-income individuals, and it does not specifically supplement Medicare costs. Disability insurance provides income protection in the event of an inability to work due to disability but does not address healthcare expenses directly related to Medicare. Therefore, the most appropriate choice is Medicare supplement insurance, as it directly addresses the gaps in Medicare coverage.