Medicare Supplement plans, also known as Medigap plans, are sold by private insurance companies to help cover some of the health-care costs and benefits not covered by Original Medicare, Part A and Part B, coverage. Medigap plans cover things like copayments, coinsurance, and deductibles – as well as, in some plans, medical care when traveling outside of the United States – all of which are not covered by traditional Medicare benefits.

In 47 of the United States, there were 10 Medicare Supplement plan offerings at earlier, which were designated with the letters A through N. Each type of plan comes with different benefits, with the plans of the same letter offering the same set of benefits. For example, Plan F in Massachusetts offers the same exact benefits as Plan F in Wisconsin. The only thing that varies was the cost of the plan, which will depend on the insurance company offering the plan.There was also another type of Medigap insurance called a Medicare SELECT plan. These plans required beneficiaries to use hospitals and/or physicians within the plan’s network of health-care providers in order to be eligible for full plan coverage. Any of the 10 standardized Medicare Supplement plan types can be offered in a Medicare SELECT version by an insurance company.

In order to be eligible to enroll in a Medicare Supplement plan, one must be enrolled in both parts of Original Medicare, Part A and Part B. Also live in the state in which the plan is being offered.The best time to enroll in a Medicare Supplement plan is during your Medigap Open Enrollment Period. This six-month enrollment window begins the month in which you are both age 65 or older and enrolled in Medicare Part B. During this time, one can buy any Medigap insurance policy in own state, even if he have pre-existing health conditions, because he cannot be denied due to medical underwriting. Finding the right Cigna Medicare Supplement isn’t hard.

Original Medicare doesn’t cover everything. If your health-care needs require you to get services outside of what’s covered by Medicare Part A and Part B, you may be left with large out-of-pocket expenses. These bills may add up without additional coverage. That’s where Medicare Supplement plans come in to help fill in the gaps left by Original Medicare coverage. Whether a Medicare Supplement plan is right for you will depend on your needs and budget. Be sure to compare all Medicare plan options in your area to find the coverage you need.

There are things you should consider first before you can make your plan. You do not need to rush into one plan that you are not aware of or one that you were talked into without a research. The good news is that each plan is awesome and has been standardized. However, the price varies from one company to another.  To make sure that the plan you are getting is perfect for you, ask questions and meet your doctor if you are not sure what will cover your health care need

 

 

 

 

Original Medicare covers many health-care services and supplies but not all. This may leave you with many out-of-pocket costs. This is where Medicare Supplements Plans may help. Also known as Medigap Plans, these plans compliments your Original Medicare, which means you can’t enroll for these plans if you don’t have original Medicare (part A and part B).

These plans are sold by private insurance companies in most states. There are 10 standardized Medicare supplement plans available in most states: A, B, C, D, F, G, M, K, L and M. In most states, these plans have the same standardized benefits for each letter category but works differently in Massachusetts, Minnesota, and Wisconsin, which standardize their plans differently from the rest of the country.

Below is a chart showing basic information about the different benefits that Medigap policies cover:

Benefits A B C D F G K L M N
Medicare Part A Coinsurance

and Hospital Costs

ü ü ü ü ü ü ü ü ü ü
Medicare Part B Coinsurance

or Copayment

ü ü ü ü ü ü 50% 75% ü ü
Blood, First Three Pints ü ü ü ü ü   50% 75% ü ü
Part A Hospice Care Coinsurance

or Copayments

ü ü ü ü ü ü 50% 75% ü ü
Skilled Nursing Facility Care

Coinsurance

    ü ü ü ü 50% 75% ü ü
Part A Deductible   ü ü ü ü ü 50% 75% 50% ü
Part B Deductible     ü   ü          
Part B Excess Charges         ü ü        
Foreign Travel Emergency       ü ü ü     ü ü

 

 

Although these plans are sold by different private insurance companies, every Medigap policy must be standardized. This means that, every insurance company offering a certain plan, must provide the same exact benefits as their competition.

 

Important facts about the Best Medicare supplement plans

  • You must have Medicare Part A and Part B for you to enroll in a Medicare Supplement Plan.
  • These plans cover one person only.
  • You can buy these plans from any insurance company in your state that’s licensed to sell one.
  • You can use your plans with any doctor or health provider , anywhere in the U.S as long as the provider accepts Medicare.
  • If you have a Medicare Advantage Plan, you can apply for a Medigap policy, but make sure you can leave the Medicare Advantage Plan before your Medigap policy begins.
  • These plans do not cover prescription drugs.
  • If you want prescription drug coverage, you can join a Medicare Prescription Drug Plan (Medicare Part D).

 

While  marketing the Medicare Advantage Plans, the private insurance companies, often highlight the Zero Premium plans. Apparently, it might give you an idea that you are getting a comprehensive plan for health coverage at no cost. However, it is just the truth, half-told. Let’s explore the hidden or indirect cost that you pay for these policies.

 

You will still be liable to pay the premium for the Part B of the Original Medicare Plan  

 

After you have subscribed to the Medicare Advantage Plans, you will still have to pay the premium, due for the Part B coverage of the Original Medicare plan. Thus, it is not practical to assume that you can get health coverage at absolutely no cost. However, so long you continue paying the premium for the Part B, you will continue the receive the corresponding benefits, even after you have subscribed to the Medicare Advantage Plan. Hence, you should not mind paying this premium, but, you should be aware of the fact that it is not that you are getting the benefits for free of cost.

 

The plans of Medicare Advantage are likely to involve deductibles, coinsurance and Co-payments

 

In the majority of the instances, the Zero premium plans for Medicare Advantages involve the deductibles, coinsurance as well as Co-payments. Explained in simple terms, these are specific amounts that you have to pay, before getting the corresponding benefits from the plan as well as the amount of money that you require paying for getting the covered services.  It is always likely that even if the insurer is not charging you any premium directly, you will still have to pay for the plan indirectly, under these heads.

Compare plans today at https://www.medicareadvantageplans2019.org.

 

In other words, you can only consider those plans to be actually zero-cost health benefit schemes, if such plans don’t involve any premium as well as comes without the provisions for deductible, coinsurance and Co-payments.

 

In addition, subscribing to these plans, never entitles you to get medical facilities, without the need to incur up from expenses from your pocket. Rather, these plans set a specific limit for the out-of-pocket expenses and you get exemptions to pay any fees for availing medical facilities, only after crossing the specific ceiling. Hence, Before you are acting crazy for the plans that comes at Zero Premium, you need to be aware of these hidden points and take the necessary steps in a sensible and wise manner.

The medical costs have become a major worrisome challenge to many people in the United States of America.  For those who are getting to their retirement age or are above the age, the increasing health cost is something that they cannot avoid.  People who are qualified for the Medicare are worried about the payment of their medical bills that are always expensive and increasing.

The Medicare Supplemental Plans have been introduced to help everyone relieve the excessive bills.  This supplemental plan is often called Medigap insurance. The medical insurance is given out by companies that are not connected to the government. The supplemental policy is designed to support the elderly take care of their medical costs that they were not taken care of by Medicare.

What makes this insurance better is that it does not matter the firm that are picking to cover all your medical benefits. Each firm you pick will take care of the policies and have the same coverage.  However, the premium costs may vary according to the firm that you are using. This is where you have to be careful in selecting your suitable plan and firm.

Though, the insurance you are buying will not be given out by the American government, but the policies are the same because they must comply with the state and federal laws.  With the number of firms available for you to select, it is easier to make comparison marketing before buying a premium.  The best plan is what you are expected to get to avoid making a wrong choice.

You should know that the cost of a premium does not decide the right plan for you. Every plan is designed to have its special benefits. The cost of the plan varies and depends totally on the insurance company.  You may end up buying more for a policy that is very affordable. This is the reason why you should first make a little research before you make your choice.

It is advisable to shop around before you can decide on the policy to use.  The reason why you should shop around is to decide the perfect policy to use.  The Medigap policies to be given to any customer depend on what the insurance company is offering.

It is important that you have the Medicare Parts A and B before going for the supplemental policies.  It is your responsible to handle the supplemental premium plan because you are going to pay for it.  This is the reason why you should shop before you go for your policy. You should be aware that the Medigap policy can only take care of only one person. Even if you are married, you cannot make use of the same policy.  The separate pair should get different policies that would cover their individual health needs. This is the reason why you should understand everything about the policy before you can make your decision. You can meet your doctor or policy administrator before making your choice.