Even after being enrolled in original Medicare plan, you may be missing some coverage that private insurance companies could offer you. Such supplements are called Medicare Supplement Plans.
Medicare Supplement Plan or Medigap is a supplementary coverage in addition to your original medical insurance. This plan was christened Medigap as it covers many “gaps” in your original Medicare plan. It covers some of the extra charges that your original Medicare plan doesn’t cover. There are medical costs and hospital bills that contain copayments, yearly deductibles, and coinsurance that your original plan fails to cover.
How does Medicare Supplement Plan work?
The first point is that you should be enrolled in an Mutual of Omaha Medicare Supplement plan to be eligible for Medicare Supplement Plans. Original plans cover your hospital and medical costs while a supplement plan adds benefits for coinsurance and other taxes. There are various other factors you need to consider before opting for a Medicare Supplement Plan. If you are a citizen under 65 and possess Medicare facility due to disability, you might not be able to get a Medicare Supplement Plan. Even then you should check once as the rules worry from insurance company to insurance company.
There is a different stand-alone Medicare Prescription drug plan that covers your medical costs and this should not be confused with Medicare supplement plans. Also, Medicare advantage plan coverage area is different from Medicare supplement plans. The supplement plan can only cover costs that are part of your original plan. It just pays for the gaps.
Some other facts to remember about the supplement plan:
- The supplement plan works only for an individual. So if you are married, you and your partner will have to apply for separate plans.
- In general, every hospital accepts Medicare supplement plan but in some cases, your plan may only work on selected doctors and hospitals covered in the provider’s network.
- The supplementary plans are renewable if you just keep paying your premium.
Inquire about your Medicare plan now! There are benefits that you may be missing. Medical costs are nothing to be taken lightly. You never know! Are you new in the United States of America? Do you need a medical insurance that will be a life saver in future? The Medicare Supplement plan has been designed to be flexible and standardized by the government.
However, you may not be able to make the right choice if you do not have information on how this Medicare insurance work. You should not be in a hurry to make a choice if you have an existing medical insurance. You are advised to meet with your administrator who is going to help you make the right choice. There are benefits that come with using the United States of America health insurance. It is affordable and easily to use. Each plan is lettered to give you a clue of what each does and does not.