With the dawn of old age arising, an important decision to make is deciding on your health insurance plan. The available plans, Medicare Advantage Plan and Original Medicare, have certain features special to each. Medicare Supplement Plans (Medigap) are availed alongside Original Medicare to fill in any ‘gaps’ you may have in your original plan such as such as deductibles, coinsurance and copayments, as well as other costs. There are a few frequently asked questions regarding Medicare Supplement Plans, as follows:
- What does Medicare Supplement Insurance Plans cover?
- Medicare part A coinsurance and hospital costs;
- Medicare Part B coinsurance or copayment;
- Blood (first 3 pints);
- Part A hospice care coinsurance or copayment;
- Skilled nursing facility care coinsurance;
- Medicare Part A deductible;
- Medicare Part B deductible;
- Foreign travel emergency (up to plan limits);
- How much do Medicare Supplement Plans cost?
Best Medigap plans in 2018 are purchased through private insurance companies and not federally-administered. Thus, they are free to sell them at their own costs making the price of this plan very variable throughout the country. The price also varies depending upon the location. Some companies tend to offer discounts on such plans time to time, to increase the consumption of this plan. Furthermore, each company is subject to their own pricing models which lead to varying costs. Hence, it is advisable to directly contact your preferred choice of company regarding this matter.
- What is the eligibility for Medicare Supplement Plans?
- You must be following the Original Medicare Plan.
- You must avail both Part A and Part B of Medicare.
- You must be above the age of sixty-five. If not, you must have legal permission in case of suffering from end-stage renal disease or qualifying disability.
- Can I choose my own doctor?
Your doctors will be same as that of your Original Medicare Plan. Thus, specialist approved by your company in the Original Plan will also be your doctor after availing the Medigap Plan.
- Are there any changes in Medicare Supplement Plans for 2019?
Apart from the discontinuation of Plan F, there don’t seem to be any other significant change in the Medicare Supplement Plans for 2019. It’s always a good idea to purchase this plan in the year before, so that you can know and predict any changes that can be incurred in the future. We hope you found these helpful.