It is better to supplement to your Medicare plan with medigap insurance
Medicare supplement plans or Medigap insurance is the private health insurance plans that are for those people who already have a Medicare policy. The Medigap insurance or Medicare supplement plans helps the Medicare beneficiaries to bear that extra medical cost that are left aside by the original plans. The name Medigap is suggested because it is believed that these policies bridges the gap between the Medicare coverage and the original expenses or the total bill charged. However in the recent studies it is seen that in the United States about 18% of the people having original Medicare policy goes for the supplement plans also.
Now you have to know the benefits of this plan. There is an eligibility criterion, which you have to obey. Most of these criteria fixed by most of the insurance companies are the same. To go for a Medigap health insurance plan a person is required to be enrolled in part A and B of original Medicare before they can go for a Medigap health insurance plan. A person may obtain a Medigap plan on a guaranteed issue basis during the open enrollment period, which begins within 6 months of turning 65 or enrolling in Medicare Part B at 65 or older. And also that I this period no medical screening is required.
But besides open enrollment the issuing insurance company may also put forth the requirement of medical screening and also may obtain an attending physicians statement if it is felt necessary. But the thing that should be kept in mind is that this policy is not compatible with any other forms of private medical coverage as for example a Medicare Advantage plan.
Let us start from part A. Part A Medigap health insurance plan is your hospital insurance. It helps you to pay for the medical treatment that you receive in a hospital or skilled nursing facility. It also covers some of your home health care and hospice care, if you are ill for a time being.
Part B is that part of the insurance coverage that helps you pay for the medical services that are not covered by the Part A policy. It also includes the Doctor’s charge. It is rather helpful when you are having a Part A policy.
Part C is that part of the insurance coverage or such a Medicare health insurance plan that combines both Part A and B coverage. It also provides some additional services. The Part C Medicare supplement plan is offered only through Medicare approved private insurance companies.
The Part D Medicare supplement health insurance plan is for your prescription drug coverage. It helps you pay for the medications prescribed by your doctor. In this case it is to be mentioned that the policy holders who enroll themselves for standalone Part D plan may not retain the drug coverage portion of their Medigap health insurance plan. But the beneficiary may choose to remove drug coverage from their current Medigap health insurance and retain all other benefits.
The Medicare supplemental plans, Medicare supplement insurance and Medicare supplement plans available here.
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