Choosing the Best Medicare Supplement Plans
Medicare Supplement plans are not reviewed like other insurance plans. The main reason being, these plans are standardized. Every insurance company will offer you the same benefits for a particular plan in every area. So the benefits do not change from company to company, only the rates differ.
- Every company which carries Medicare Supplement plans are not required to offer all the ten plans. So you need to find out the plans which are available in your area.
- Search for the plans in your area on the internet by using your zip code.
- Compare the benefits of the available plans. All the ten plans offer a set of basic benefits and some specific benefits or coverage amount.
- You need to match your needs with the plan which fulfils them most closely.
- Compare the rates of the available plans from a few companies which serve your area.
- Contact the company or their representatives or agents to get a quote and know the details of the plans.
If you have enrolled into Original Medicare, you should probably consider getting Medicare Supplement plans as well. Medicare Part A and Part B benefits have ‘gaps in their coverage. You have to pay a huge amount towards the deductibles, copayments and coinsurance when you use benefits of these plans.
Medicare Supplement plans, also called Medigap, greatly supplement the benefits under Original Medicare .There are certain limitations on the benefits of Original Medicare which make them insufficient in most cases. Here Medicare Supplement plans help to extend the coverage to a great extent and also cover the out-of-pocket expense amounts.
Medicare Supplement Plans
These plans are not sold by the government; they have to be bought from private insurance companies. There are ten standard plans approved by Medicare – denoted by letters A, B, C, D, F, G, K, L, M and N. These plans have to be used along with Original Medicare plans. So you need to have Medicare Part A and Part B if you want to buy these plans. People who are under 65 and have Medicare on the grounds of physical disability may not be able to buy Medicare Supplement plans.
Medicare Supplement Plan Benefits
|2016 Medicare Supplement Plans|
|Medicare Supplement Benefits||A||B||C||D||F*||G||K||L||M||N|
|Medicare Part A coinsurance hospital costs up to an additional 365 days after Medicare benefits are exhausted||X||X||X||X||X||X||X||X||X||X|
|Medicare Part B copayment or coinsurance coverage||X||X||X||X||X||X||50%||75%||X||X***|
|First 3 pints of blood||X||X||X||X||X||X||50%||75%||X||X|
|Part A hospice care coinsurance or copayment||X||X||X||X||X||X||50%||75%||X||X|
|Skilled Nursing Facility (SNF) care coinsurance||X||X||X||X||50%||75%||X||X|
|Medicare Part A deductible||X||X||X||X||X||50%||75%||50%||X|
|Medicare Part B deductible||X||X|
|Medicare Part B ‘excess charges’||X||X|
|Foreign travel emergency coverage (up to plan limits)||80%||80%||80%||80%||80%||80%|
|Medicare Part B preventive care coinsurance||X||X||X||X||X||X||X||X||X||X|
|$4,960 in 2016||$2,480 in 2016|