Medicare Supplement Insurance -Medigap is a private health insurance policy designed to supplement Original Medicare (Part A and Part B). Medigap is provided by private health insurance companies, but is managed by Medicare. Medigap helps pay for some of the health care costs that Original Medicare does not cover (“gaps,” such as co-payments, co-insurance and deductibles), as well as some services that Medicare does not cover at all. If you have Original Medicare and Medigap Policy, Medicare pays its share of Medicare-approved amounts for health care costs, followed by a Medigap fee.
Every Medigap policy must comply with federal and state laws. Medigap policies are standardized and identified by the letters AL. Every policy should offer the same basic benefits no matter what health insurance provider sells it, the only difference will be the price each airline offers.
Policy A offers basic and major benefits, while the other eleven policies contain major benefits, as well as several additional benefits. Plan A offers the following benefits:
- Part A Coinsurance Hospital on days 61-90
- Part A Hospital for Lifetime Coinsurance Reserve for days 91-150
- 365 Lifetime hospital outside Medicare coverage
- Part B 20% Coinsurance
- Part A and Part B 3 remove a pint from the blood.
The remaining policies (from B to L) offer a different combination of the following benefits:
- Part A Maintenance of a credit institution for the elderly for 21-100 days
- Part of the hospital is deducted
- Part B franchise
- Overseas travel
- In the house of recovery
- Preventive medical care
When you buy a Medigap policy, you must have Medicare Part A and Medicare Part B. You will have to pay a premium for both Medicare Part B and your Medigap policy.
However, keep in mind that many benefits are not covered by any Medigap, including:
- Dental care
- Hearing Aids
- Prescription drug costs in excess of $ 3,000 per year
- Care for the elderly
- Experienced nursing care after 100 days
- Eye care
Please note that plans E, H, I and J are no longer sold (starting in 2012). But if you already have it, you can continue to receive benefits.
Finally, Medicare MedicareSolutions insurance experts are available to help you find a Medigap plan that fits your needs. Visit http://www.medicaresolutions.com/medigap.asp for a user-friendly resource that highlights every Medigap plan available to you. Click on a specific plan, and you can learn more about the benefits of the plan.
