Medicare also known as Medigap is a federal health insurance program which pays for a several of health care expenditures. It’s controlled by the Centers for Medicare & Medicaid Services (CMS), a division of the U.S. Department of Health & Human Services (HHS).
Medicare is also an entitlement program. Many U.S. citizens have the right to enroll in Medicare by working and paying their taxes for a minimum required period of time. Medicare beneficiaries are normally senior citizens that are aged between 65 and older. Adults with a particular approved medical and also qualifying permanent disabilities may also be entitled to Medicare benefits.
Medicare Supplemental Insurance (Medigap) plans are provided by private insurance companies and can assist in covering out-of-pocket costs that is not covered by the Original Medicare, such as copayments, coinsurance, and deductibles, With Original Medicare there are no limit to what you may have to spend. A Medicare Supplemental Insurance (Medigap) plan can protect you from having big medical bills (many Medicare copayments or coinsurance amounts) whenever you need extensive medical care. In 47 states, there are up to ten standard Medicare Supplement plans with lettered names (Plans A, B, C, D, F, G, K, L, M, and N) but not all of the plans are available in all areas.
Who can get a Medicare Supplement plan?
In order to enroll in a Medicare Supplemental Insurance (Medigap) plan, you must have Medicare parts which are Part A and Part B. You are also supposed to be age 65 or even older. While Medicare Part A and Part B may be available to those under the age of 65 with Social Security disability assistances and also a certain health conditions, the federal government does not necessitate that private insurance companies sell Medicare Supplement policies to people under the age of 65. Although, some states requires private insurance companies to sell Medicare Supplement to people under the age of 65 years.
What does Medicare Supplemental Insurance (Medigap) cover?
The 10 standardized lettered Medicare Supplement which available in most states are listed below:
Coinsurance or copayments benefit with different percentage.
- All Medicare Supplemental Insurance (Medigap) plans mostly and generally cover 100% of Medicare Part A coinsurance and hospital costs up to additional 365 days after Medicare benefits are been used up.
- All Medicare Supplemental Insurance (Medigap) plans covers Medicare Part B coinsurance or copayments 50%.
- Plan K covers coinsurance or copayments benefit at 50%
- Plan L covers coinsurance or copayments at75%.
- The rest of the plans may cover coinsurance or copayments at 100%.
Pints of blood in a medical process at different percentage.
- All Medicare Supplemental Insurance (Medigap) plans covers the first three pints of blood in a medical process at least 50%.
- Plan K cover this benefit at 50%.
- Plan L may cover it at 75%. The rest of the plans typically cover it at 100%.
Hospice care coinsurance or copayment.
- All Medicare Supplemental Insurance (Medigap) plans may covers:
- Medicare Part A hospice care coinsurance or copayment at least 50%.
- Plan K covers hospice care coinsurance or copayment at 50%.
- Plan L covers hospice care coinsurance or copayment at 75%.
- The remaining plans cover hospice care coinsurance or copayment at 100%.
Skilled nursing facility care coinsurance.
- Eight of the ten plans cover skilled nursing facility care coinsurance at least 50%. Plans A and B does cover skilled nursing facility care coinsurance at all.
- Plan K covers skilled nursing facility care coinsurance at 50%.
- Plan L covers skilled nursing facility care coinsurance at 75%.
- The rest of the plans skilled nursing facility care coinsurance at 100%.
Deductible.
- All Medicare Supplement plans expects plan A to cover the Medicare Part A deductible at least 50%.
- Plan K and Plan M cover deductible at 50%.
- Plan L covers deductible at 75%.
- Plans B, C, D, F, G, and N cover deductible at 100%.
- Plans C and F cover the Part B deductible at 100%.
- No other plans cover the Part B deductible.
Excess charges
- Plans F and G cover Part B excess charges.
- No other plans cover Part B excess charges.
Foreign travel emergencies
- Six plans (C, D, F, G, M and N) cover foreign travel emergencies at 80%, up to plan limits.
What Medicare Supplemental Insurance (Medigap) does not cover?
Medicare Supplemental Insurance (Medigap) plans usually do not cover:
- Routine dental care
- Routine vision care
- Private-duty nursing
- Prescription drugs
- Nursing home care
Learn more about Medicare Supplemental Insurance plans, rates and more at http://www.emedicare-supplemental-insurance.com. Medicare Supplemental Insurance brokers will help you compare Medicare Supplemental Insurance rates and plans. To talk to an expert in Medicare coverage toll free 877-202-9248 today!