Medicare Supplement Plan Info
A Medicare supplement is a health insurance plan that increases the amount of coverage that you receive from Medicare Part A and Medicare Part B. Medicare Parts A and B. This is known as Original Medicare
Medicare supplement is for senior (age 65+) or disabled citizens enrolled in Original Medicare. You should know that Medicare has many parts. This can cause some confusion because each part has its own rules, costs, and coverage limits.
A Medicare supplement insurance policy can also be known as a “Medigap” policy, and as such, it is considered to be your secondary insurance. The bills will be submitted to Medicare first, and Medicare will pay its portion of the bills. Then, your supplementary health insurance plan (Medicare Supplement) will be billed the remaining. The plan will pay a portion of what has been left over by Medicare, and you may receive a bill if there is anything left after that.
In certain instances, those who are under age 65 and have Original Medicare because of a qualifying disability or health condition may also be eligible for Medicare Supplement Plans. Some of the expenses that Part A and Part B cover include:
• Inpatient hospital care
• Doctor visits
• Medical equipment
• Laboratory and other preventative tests
• Home health services
Original Medicare does not cover costs that are incurred during travel outside of the country, but you can select a Medigap plan that does. Plans C, D, E, F, G, H, I, J, M and N all cover a portion of your foreign expenses. If you need emergency care within the first 60 days of your trip, your Medigap plan will cover 80 percent of the costs. Most plans will also pay for medically necessary care after you have met a pre-established deductible.
The best time to apply for a Medicare Supplement insurance policy is during your six-month “open enrollment” period. This period begins on the month that you turn age 65 and are also enrolled in Medicare Part B.
It is important to apply for supplemental insurance during your open enrollment time period because once this period is over, you will not be given another. Should you wait to apply for supplemental insurance after your open enrollment period has expired, purchasing a health supplement policy can be harder. This is especially the case if you have certain adverse health conditions.
Additionally, if you do qualify for coverage that is applied for after your open enrollment period, it is also possible that you may pay a higher amount of premium than you would if you had applied during open enrollment.
With Medicare Part A and Part B, there may be small co-payments, deductibles, coinsurance, and other treatment costs in other to assure that users don’t overindulge their medical aid. For people who require more frequent medical visits, a Medicare supplement insurance plan can be a great solution to assist in the payment for these costs.
There are ten lettered Medicare supplement insurance plans. Two of these supplement plans are named Part A and Part B, so be sure you do not confuse these with Original Medicare Part A and Part B. These supplement plans offer similar coverage in every state, and the monthly premiums for these plans can vary by state. To enroll in a Medicare supplement plan, you must already be enrolled in Original Medicare Part A and Part B. Medicare supplement plans are sold by insurance companies, so ask your insurance agent what type of coverage they offer. States are not required to sell all ten Medicare supplement plans, so be sure you know which plans are sold in your state.
