What must insurance companies provide to buyers before purchasing a Medigap policy?

Insurance companies are required to provide a clear disclosure of terms and conditions to buyers before they purchase a Medigap policy. This transparency ensures that potential policyholders fully understand what the policy covers, including benefits, exclusions, limitations, and costs. It is essential for consumers to have this information so they can make informed decisions about their healthcare coverage and how it integrates with their existing Medicare plans.

While options such as a trial period for decision making or lists of available doctors might seem beneficial, they do not represent the primary requirement established by regulations regarding Medigap policies. Similarly, information about private insurance plans does not directly relate to the essential disclosures required for Medigap products. Therefore, emphasizing a clear disclosure of terms and conditions is critical for consumer empowerment and informed decision-making when considering their health insurance options.