Whois & Analysis for finalquote.com

Medigap (also Medicare supplement insurance or Medicare supplemental insurance) refers to various private health insurance plans sold to supplement Medicare in the United States.

Medigap insurance provides coverage for many of the co-pays and some of the co-insurance related to Medicare-covered hospital, skilled nursing facility, home health care, ambulance, durable medical equipment, and doctor charges.

Medigap's name is derived from the notion that it exists to cover the difference or "gap" between the expenses reimbursed to providers by Medicare Parts A and B for the preceding named services and the total amount allowed to be charged for those services by the United States Centers for Medicare and Medicaid Services (CMS).

As of 2006, 18% of Medicare beneficiaries were covered by a Medigap policy.

Public-option Part C Medicare Advantage health plans and private employee retiree insurance provides a similar supplemental role for almost all other Medicare beneficiaries not dual eligible for Medicaid.

In the United States, Medicare is a single-payer, national social insurance program administered by the US federal government since 1966, currently using about 30–50 private insurance companies across the United States under contract for administration.

United States Medicare is funded by a payroll tax, premiums and surtaxes from , and general revenue.

It provides health insurance for Americans aged 65 and older who have worked and paid into the system through the payroll tax.

It also provides health insurance to younger people with some disabilities status as determined by the Social Security Administration, as well as people with end stage renal disease and amyotrophic lateral sclerosis.

Health insurance is insurance against the risk of incurring medical expenses among individuals.

By estimating the overall risk of health care and health system expenses, among a targeted group, an insurer can develop a routine finance structure, such as a monthly premium or payroll tax, to ensure that money is available to pay for the health care benefits specified in the insurance agreement.

The benefit is administered by a central organization such as a government agency, private business, or not-for-profit entity.

According to the Health Insurance Association of America, health insurance is defined as "coverage that provides for the payments of benefits as a result of sickness or injury.

It includes insurance for losses from accident, medical expense, disability, or accidental death and dismemberment" (pg.

225).

Life insurance (or life assurance, especially in the Commonwealth of Nations), is a contract between an insurance policy holder and an insurer or assurer, where the insurer promises to pay a designated beneficiary a sum of money (the benefit) in exchange for a premium, upon the death of an insured person (often the policy holder).

Depending on the contract, other events such as terminal illness or critical illness can also trigger payment.

The policy holder typically pays a premium, either regularly or as one lump sum.

Other expenses (such as funeral expenses) can also be included in the benefits.