subject: Medicare Supplemental Insurance - What They Are And What They Offer [print this page] A medicare supplement policy works in tandem with standard Medicare to cover out of pocket costs such as deductibles, co-payments, coinsurance and other traditionally uncovered costs.
There are several policies from which to choose. There can also be differences in the cost of coverage from one insurer to another for the same basic benefits. These types of policies must follow regulations set forth by federal and state governments as to what must be offered by each plan.
Federal and state laws regulate what Medicare supplement Insurance plans must offer as basic coverage. Regulations require that only twelve types of plans may be offered. These plans are lettered A-L.
All twelve must cover Part A coinsurance and for hospital care costs for 365 days after standard coverage ends. Part B coinsurance and the first three needed pints of blood must also be covered by all plans. A Plan A medigap policy will cover these basic requirements and no more, typically.
Plans B through L will offer the Plan A basic benefits plus a combination of a list of other benefits. B-L plans may offer such things as coverage of Part A and B deductibles, co-payments for time spent in a skilled nursing facility from the 21st to 100th day in care, and coverage for at home recovery care.
These plans may also provide coverage for emergency care in a foreign country, preventative medical care and coinsurance for respite care.
Despite the fact that all the plans are standardized and certified by the United states Department of Health and Human Services, all states may not offer all twelve plans. All individuals who qualify have access to at least one Advantage plan, regardless of which state is the state of residence.
Medicare supplement Insurance offer all the standard benefits offered by traditional Medicare including laboratory services, hospitalization, outpatient care, physician fees and diagnostic services.
Many of these Advantage plans also offer more comprehensive prescription medication coverage than the Part D portion of the traditional plan. This added coverage of the various medigap plans can make health care more affordable for senior citizens and other qualifying individuals. Enrollment in these plans is increasing each year as people look for ways to cover medical costs.
by: Dave Miller
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