Medicare health insurance plans offer an affordable option to those looking to make sure that they have access to the best possible care. Unfortunately, though, Medicare Parts A & B simply don’t cover a lot of necessary care. That’s where...<br /><a class="read-more-button" href="http://cwkj.info/an-introduction-to-several-popular-medicare-supplement-plans.html">Read more</a>
Medicare health insurance plans offer an affordable option to those looking to make sure that they have access to the best possible care. Unfortunately, though, Medicare Parts A & B simply don’t cover a lot of necessary care. That’s where Medicare supplement plans, also referred to within the industry as Medigap plans, come in.
What’s Covered Under Medicare?
Part A covers inpatient hospitalization, while Part B focuses on outpatient care. Part A currently includes a $1,350 benefit period deductible which must be met before the insurance policy begins covering any part of hospital stays, though, and requires a two-night minimum before kicking in. It’s also important to note that it only covers 100% of care for up to 60 days, at which point patients must begin paying daily copays of $329.
Part B covers medically necessary outpatient services such as preventative care, medical equipment, lab tests, and some in-home care. It is considered an elective form of coverage and covers only 80% of the cost of services. Given how essential outpatient and preventative care are, though, most policyholders do choose to take out a Plan B supplement plan, at the very least.
Supplement Plan D offers prescription drug coverage. It is available to anyone who has Medicare, though those who do not opt to enroll in this elective coverage when they first become eligible may wind up paying higher premiums if they enroll later. Different Plan D plans have different deductibles and coverage gaps, so it’s important to do some research prior to taking out a policy.
Medigap Plan G is one of the most popular supplement plans. It covers Part A deductibles and coinsurance, Part B copayments, hospice care coinsurance or copayments, skilled nursing care coinsurance, blood up to the first three pints, and even foreign travel emergencies up to the plan’s limits.
Plan F covers all of these payments as well in addition to covering the Part B deductible. It is, however, a more expensive plan. Plan N is even less expensive than Plan G, but does not cover Part B excess charges or deductibles and requires $20 copayments for outpatient visits and $50 copayments for emergency room visits.
The best way to decide what additional coverage plans to purchase is to consult an insurance agent, as each of them offers a different level of coverage. Click here to get started.