What does a Medicare Supplement Policy aim to do?

A Medicare Supplement Policy, also known as Medigap, is specifically designed to fill in the gaps of coverage left by Medicare Parts A and B. While Medicare provides substantial health coverage for seniors, it does not cover all healthcare costs. For example, Medicare has deductibles, coinsurance, and copayments, which can lead to significant out-of-pocket expenses for beneficiaries.

The purpose of a Medicare Supplement Policy is to cover these additional costs, thus helping to reduce the financial burden of healthcare for individuals who rely on Medicare. These policies can help pay for things like hospital stays that Medicare does not fully cover, or the coinsurance for outpatient services.

The other choices do not accurately reflect the purpose of a Medicare Supplement Policy. Eliminating all Medicare costs is beyond the intent of Medigap since it only supplements existing Medicare coverage rather than completely covering all costs. Providing long-term care coverage is a different kind of insurance product, and discounts on prescription drugs are part of the Medicare Part D benefits, not Medigap. Thus, the focus of a Medicare Supplement Policy remains on complementing the coverage provided by Medicare, which makes the chosen answer the most accurate.