The Medicare Policy Coverage And The Need Of Medigap Insurance
To get the best returns from the Medicare plans it is essential to have some Medicare supplement plans as the back up. As it is known to all that the Original Medicare plans does not cover up all the costs needed for your Medical expenses and therefore there is always the need of some back up that can help you clear up your bills completely. For this purpose there are the Medicare supplement plans ready to be used to bridge the gap between the original Medicare policy coverage and the actual medical bill payable. Therefore the Medigap policies are the best help one can get to pay for all the needful medical costs payable.
It should be kept in mind that the Medigap policies are sold and administered by the private insurance companies only. But still there are only twelve standard Medigap plans to be sold by the private insurance companies only. Besides that there are also other factors to be kept in mind. The twelve Medicare supplement plans named A through L were standardized in 1992. According to the standardization rules the private insurance companies were allowed to sell these plans but the fact is that no single company has the power to change the benefits offered by any single plan. Which means that the benefits and coverage mentioned in the each and every plan are fixed and no individual company has the authority to change them any way. Therefore if you want to purchase a Medigap Plan C or D you can get it from any company you choose and be sure to get the same benefits offered by the other companies. But in this respect it should be kept in mind that the premium rates for each and every plan may vary according to the company you choose.
Though after the standardization of the Medicare supplement insurance plans in 1992 there had been no changes in the standard Medicare plans. But the fact is that by June 2010 some major changes are coming up in the standard Medigap plans. According to the new changes four of the existing Medicare supplement insurance plans are going to be dropped and in its place two new plans M and N are going to be introduced.
It is believed that the new Medigap plans are of better profit to the Medigap beneficiaries. Using cost sharing means and deductibles these two new plans are also going to offer better benefits to the Medicare beneficiaries. And therefore it is hoped that with the advent of the new plans the customers are going to get better benefits and it is presumed that these plans are going to get a good deal of popularity.
In fact for the enrollment of the Medicare supplement plans it should be noted that one must be under the original Medicare part A and B this is the most essential criterion for the enrollment of the Medigap insurance plans. Even if a person switches over to any other plan other than the original Medicare he would no longer be able to use the benefits if the Medigap plans unless he switches back to the original Medicare.
by: William RichardsAbout the Author:Best Medicare Supplement Comparison, Best Medicare Supplement and Medicare Supplemental Insurance available here.