By Brant Reed
How do you determine which supplemental Medicare insurance policy is best for you? You will see a difference between the types of policy that you can get and which company from which you can get it. Do not let any salesman convinced you that their Medicare supplement policy is any better than that offered by another company.
Fed Regulations
The federal government regulates what each of these supplemental policies cover. The only real difference is that you pay more at one company then you may add another. There can be significant cost differences between two different companies offering the same exact benefits.
In order to get the best insurance policy for your situation, you need to understand what each of the plans offer. The first requirement for any of these plans is that you enroll in traditional Medicare. If you decide to go with Medicare part C, then you will not need a Medigap policy.
Medigap Option
If you decide to go with traditional Medicare Part A and Part B, you need to look at which supplemental policy works best. Every plan includes a basic set of benefits. Medigap Plan A provides this basic set of benefits. All other plans offer this basic set of benefits along with additional items.
The basic set of benefits include covering coinsurance coverage for Plan A for up to a year after Medicare benefits cease, providing coinsurance and copayment coverage for everything except preventative services in plan B, covering the cost of the first 3 pints of blood required for procedures, and covering Medicare preventive care for Part B coinsurance.
Plan Considerations
Once you get past this basic set of benefits, supplemental Medicare insurance policies begin to show their differences. Some of the different plans cover hospice care coinsurance and copayment. Others provide coverage for skilled nursing facility care coinsurance.
Some of the plans provide coverage for the deductibles of both Plan A and Plan B. they also provide coverage of emergency services in foreign countries when traveling. They also provide coverage of at-home recovery and preventative care not covered by Medicare. Each policy has different copayments, coinsurance, and deductibles in place.
Author Information
Brant Reed is a freelance writer who advises that before you sign up for supplemental Medicare insurance, understand all the differences so that you can make the right decision for you. If you are married, you and your spouse will have to have separate Medigap policies. This is the same as having separate Medicare coverage for each one of you.
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