What Does a Medicare Supplement Policy Cover?

A Medicare supplement, also known as Medigap policy, is basically an insurance policy that is next after Medicare. You must register for parts A and B to sign up for a Medicare supplement plan.

Original Medicare consists of four parts. Part A is a hospital insurance policy with a deductible of $ 1,156.00 for 2012. Part B is a health insurance policy with a $ 140.00 deductible for 2012. Part C is known as the Medicare Advantage Plan. Medicare Advantage Plans replace your original Medicare insurance. They include medical insurance, hospital insurance and some plans include prescription drugs. Part D is the cover by prescription drugs. If your Part C plan does not have prescription drug coverage, you can enroll in Part D.

If you choose to keep Original Medicare (Parts A and B), most of your expenses will be taken care of by the existence of a Medicare Supplement Plan.

Currently, the Medicare supplements are available for selection from plans A, B, C, D, F (highly deductible), G, K, L, M and N. All plans require a premium and some require payment of additional deductibles prior to Cover.

Depending on the plan, each of the services listed below is either fully or partially covered:  https://www.medicareadvantageplans2019.org

  • Medicare Part A Co-insurance and hospital costs up to 365 days after Medicare benefits
  • Medicare Part B Co-insurance or excess
  • Blood (the first 3 pints)
  • Part A Hospice Care co-insurance or co-payment
  • Specialist insurance Co-insurance
  • Deductible Medicare Part A
  • Deductible Medicare Part B
  • Medicare Part B surpluses
  • International travel emergency.

Detailed plan coverage for every benefit is provided in the official Medicare publication, Choosing a Medigap Policy: A Guide to Health Insurance for People with Medicare.

All Medicare Supplement plans must comply with federal and state laws and must be identified as Medicare Supplement Insurance. Insurance companies can only sell standardized policies. In other words, they all have to offer the same basic benefits, but some plans offer additional benefits so you can choose the one that suits your needs.

In general, the only difference between the plans is the price, so it’s worth comparing apples to apples through different insurance companies when shopping for a specific plan.

Current Medicare supplement plans do not cover your prescription drugs. To receive this coverage, you will need to sign up for Part D by contacting Medicare or through the Medicare website during an open enrollment phase.

Plans E, H, I and J have been discontinued. If you currently have one of these plans, you can keep it, but if you change plans, you will not be able to get any of those plans.

Medicare supplements vary in what they cover and what they cost. If you have difficulty paying your medical bills, you want to make sure that you are not paying any assets for your supplemental plan. You want to make sure the plan you choose is cost effective. There are many different Medicare plans for someone who has difficulty paying their medical bills or if you have types of medical expenses that Medicare does not cover.