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