Medicare Supplement Plans – What They Cover

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Medicare Supplement Insurance, otherwise known as Medigap, is basically private insurance that picks up the slack left by Medicare. For instance, if you already have a doctor or hospital bill, Medicare often pays its full amount at the time of your visit, leaving you with nothing else to pay. Medicare supplement Plan, on the other hand, fills in the “gaps” left behind by Medicare and offers specific coverage for those items Medicare doesn’t cover. This means that you get to keep much of the same things you’d enjoy with Medicare, without having to dip into your own pocket.

How To Become Better With Medicare Supplement Plans

There are a variety of Medicare supplement plans available, ranging from those that cover things like prescriptions and doctor visits, to those that pay the full cost of your hospital stay, to even those that will foot the entire bill for a skilled nursing facility (known as a Medicare Advantage). These plans also come in various forms: There are point-of-service plans, which pay a monthly premium for a certain set number of services; there are a range of “silver” plans, which provide coverage only for a set percentage of services; and “private” plans which don’t offer any coverage options. Basically, every plan offers something different to their users, but all of them provide a degree of coverage that Medicare cannot. For instance, point-of-service plans will typically pay your hospital bill based on the date you went in, at the time of your visit, and what Medicare spent on your hospital stay. A silver plan will cover the full cost of your hospital bill and will require you to pay nothing out-of-pocket until Medicare takes care of the rest.

As you can see, the various Medicare supplement plans available to you may vary quite a bit depending on what exactly you need to cover. The important thing to remember is that the insurance companies are competing for your business – so, they’ll do whatever they can to attract you to their plan. You want to make sure that your needs are met, not only by the plan itself, but also by the insurance companies that sell it to you.