What kind of service does a Medigap policy typically provide?

A Medigap policy, also known as Medicare Supplement Insurance, is designed specifically to provide supplemental coverage to individuals enrolled in Medicare. Medicare alone often leaves certain gaps in coverage, such as deductibles, copayments, and coinsurance, which can result in out-of-pocket costs for beneficiaries. Medigap policies help to fill these financial gaps, making healthcare more affordable for those who rely on Medicare.

For example, a Medigap policy can cover services that might require copayments or coinsurance when patients visit specialists or require hospitalization. This is particularly valuable for those on Medicare who may face high healthcare expenses due to chronic conditions or frequent medical care.

The other options don't accurately describe the function of a Medigap policy. It does not cover long-term care, which is typically provided by separate insurance products. Furthermore, Medigap policies do not offer full coverage for all health services; they still require Medicare as the primary insurance. Lastly, while Medigap policies can aid with some healthcare costs, they do not provide discounts on medications—that function is typically addressed by other policies or programs such as Medicare Part D.