When it’s about your health you can’t compromise on it. It’s is costly to bear entire medical expenses for you and your family. A medical insurance policy is a solution to the problem. Maintain your premium every month and your insurance company will bear your medical expenses.
But those insurance policies don’t cover 100% of the expense. This is a gap in your medical insurance plans. But Medicare supplement plans are designed to cover 100% cost of your medical expenses with Medicare. The basic Medicare plans an be found at https://www.medisupps.com/medicare-supplement-plans-2019/
- Hospital insurance (Part A),
- Medical insurance (Part B),
- Prescription drug coverage (Part D),
With this Medicare plans, you can include your supplement plans of Medicare.
What are the benefits of Medicare supplement plans?
There are ten supplement plans A, B, C, D, F, G, K, L, M, N. These plans are basically made to cover 100% of your medical cost.
- Medicare Part A coinsurance and hospital cost (it is applicable after using the Medicare benefits for 365 days).
- Coinsurance and copayments in Medicare Plan B.
- Blood first three pints
- Hospice care
- Part A, Part B deductible
- Skilled nurse facility care
- Part B excess charges
- Foreign travel emergency
Those above benefits vary from state to state. Not all states offer the same supplement insurance policies with your basic medical insurance.
What is the basic eligibility of buying Medigap?
The person must have Medicare Part A and Part B insurance. Without them, you can’t buy supplement plans. These plans are for individual so your parents, wife, and children will not have supplement plans. Your age must be above 65 but some states allow ‘under 65’ aged people.
Basically open enrollment period is the time to purchase Medigap. When you turned 65 you are absolutely eligible for Medigaps as well as Medicare Part B.
What does not cover Medigap?
- Medigap don’t applicable if you are not 65.
- It doesn’t pay disability Medicare.
- The person who has an end-stage renal disease or amyotrophic lateral sclerosis is not eligible to purchase Medigap.
- Doesn’t cover prescribed medicine costs.
- Private Nurse Care.
What are the factors that decide premium amount in Medigap?
- State insurance policy
- Medicare supplement plans (A, B, C, D, F, G, K, L, M, and N).
Before buying any Medicare supplement plans one must consult with state insurance policy and insurance advisor. Fill up your medical insurance gap carefully.