You’ve probably heard a lot of talk recently about Medicare Supplemental insurance plans or Medigap insurance plans. What exactly are they and what do they cover? This article provides a few helpful tips for those considering a Medicare Supplemental insurance plan. If you’re currently covered by Medicare, but want to find out more about additional benefits you may need, this article is for you.
Medigap Insurance Plans varies from insurance company to insurance company. In some instances, Medicare will cover services that original Medicare won’t cover. Some Medigap plans can offer some or all of the following benefits, including vision care, emergency room visits, doctor visits, and prescription drugs.
Patients can decide which benefits are important to them, and whether or not you’re interested in obtaining Medigap coverage separately from Medicare. Before starting the application process, it’s important to understand which types of services are included with each plan, and the limitations on those services, so you’re not double-booked.
When comparing the various kinds of Medicare Supplemental plans, it’s important to first establish whether or not your current medical condition qualifies you for benefits. Many conditions that Medicare traditionally covers are excluded from coverage under most Medigap plans, including chronic obstructive pulmonary disease (COPD) and asthma, as well as certain sexually transmitted diseases.
Some conditions that are eligible under Medicare, but not covered by a Medigap policy, include diabetic retinopathy, tumor removal, sclerotherapy, and lung cancer. Some of the medications you may be taking currently or have been prescribed may also be covered under one or several of the plans. Medicare Part B covers hospitalization costs up to a maximum limit, while Medicare Part D covers the additional costs of certain types of drugs, such as blood pressure medications.
For Medigap policyholders who are unsure about their eligibility for a Medigap policy, there are several options. One option is to contact the Medicare administrator directly. They have the power to determine if you qualify based on your health history, current Medicare level, and expected future health problems. Another option is to speak with an experienced licensed financial advisor who can provide valuable information regarding obtaining a Medicare Supplemental insurance policy that fits your needs. You can call the Medicare Consumer Assistance Program directly to receive free information about Medicare and Medigap policies.
There are various benefits that come along with Medigap plans. Some plans cover all the costs associated with hospital care up to a certain limit, or an annual deductible. They may also cover costs related to home care services, nursing home care, and extended disability. In order to be categorized as a low-income senior, a senior citizen may have to qualify for certain tax benefits. In order to apply for a Medicare Supplement policy, you will need to fill out an application that will be reviewed by a Medicare specialist. There are many options available, but if you need specific coverage, it would be in your best interest to speak with a qualified advisor to find out exactly what your options are.
