What Are Medicare Supplement Plans?

The Plans

If you are someone who has many medical issues and have to visit a general practitioner or specialist many times, this can be quite expensive. Medicare Part A and Medicare Part B are there to help with your medical expenses. Having a Medicare supplement plan called Medigap will definitely help with the extra costs Medicare Part A and Medicare Part B do not cover such as coinsurance, deductibles and copayments.

There are standard Medicare supplement plans in all the states and they are designated by the letters A to N. Plans E, I, J, and H are no longer offered. Private insurance companies will all offer Plan A and sometimes they will offer the other plans too. One must search each plan to see which one will meet one’s medical priorities. Depending on the area one lives, it will also be a concern about the cost of the premium for each plan.

The coverage

No matter what Medicare supplement plan you may choose, they will all be alike in every state and from every insurance company. So Medicare supplement Plan F in Connecticut will be the same Medicare supplement Plan F in Florida. Exceptions are if you reside in Massachusetts, Minnesota and Wisconsin where their Medicare supplement plans may differ from other parts of the United States. Medicare supplement plans do not cover dental, vision, hearing aids, long term care or prescriptions, but all plans must cover these:

First 3 pints of blood use in a medical situation

Medicare Part A coinsurance beyond 365 days of benefits used

Medicare Part A hospice coinsurance or copayments

Medicare Part B coinsurance or copayments

Some of the Medicare supplement plans will cover other benefits different from the other plans which may be more beneficial to ones needs:

Foreign medical needs

Medicare Part A deductible

Medicare Part B deductible

Medicare Part B preventive care

Medicare Part B excess charges

Nursing home care

Cost of Medicare Supplement Plans

Insurance companies all offer the same Medicare supplement plans 2018, but the premiums can vary greatly depending on where you live. You really need to study the different plans and what you decide you can afford for the additional benefits.

Are you eligible?

When one joins Medicare Part A and Medicare Part B, a Medicare Supplement plan is also available for one to acquire. There is an open enrollment time period of 6 months after one acquires Medicare Part B. This time is the best time to get a Medigap plan.