Medicare Insurance has never been so complicated! With so many changes in health care in the last 18 months, today’s senior citizens must become experts to know which plan works best for them. Will it be next year or what? Can I change if I’m not satisfied with the features? These are all important questions to ask, and even better, know the answer.
Protecting yourself with a Medicare supplement plan is the safest way to go when it comes to your health in your “golden years”. This means that you have original Medicare, parts A & part B, as your primary health insurance. A Medigap or Medicare supplement plan covers the costs that Medicare does not. This includes copay, coinsurance and other expenses.
Plan F of Medicare supplements has become the Cadillac choice for today’s seniors. In essence, it covers almost all of your potential expenses that Medicare does not cover. Other plans such as Plan N or G still leave gaps that could potentially be financially devastating. For that reason, Plan F is your best bet when considering your Medicare supplement options.
The biggest part is that the Medicare Plan F is the same, no matter which carrier you choose. In every city, district or state – the benefits remain the same! I will advice that you shop around to make sure you get the best price for the plan as each wearer sets their own price for their service. Some wearers even add silver sneakers or other health and wellness benefits that others do not have, usually at no extra cost.
After you have your supplement insurance, make sure that you also have a part D. Neither Medicare nor your supplement plan will cover your monthly prescriptions and it is imperative that you find the best plan for you based on your budget and needs. If you do not, you may be penalized later and pay a higher rate as long as you have Medicare coverage. Find a supplement plan at https://www.medisupps.com/
Finally, a common misconception is that if you have a Plan F, regardless of your carrier, you are not tied to their network of providers.
A Medicare Supplement Insurance policy will pay for some of the healthcare costs that Original Medicare does not cover, such as:
- Co payments
- co insurance
Medigap policies are provided by private companies.
Some Medigap policies also cover benefits that are not covered by primary Medicare, such as medical care when traveling outside the US. If you purchased original Medicare and purchase a Medigap plan, the following happens:
Medicare will pay its own share of the amount approved by Medicare for the costs of healthcare after which your Medigap policy will pays its own share.
Do you really believe that insurance companies provide better coverage than required in all areas? If you are taking a Medicare Advantage plan, please be aware of your exclusions and limitations.
Oh, and those teeth and eyesight benefits? They are usually similar to discount plans that you can get through various associations. They look good, but they are not usually what you would expect.