If you are planning on securing supplementary health insurance in addition to your Medicare plan, it is very important that you are familiar with Medigap. Keep in mind that Medigap is structured so that all plans with the same name offer the same coverage, regardless of the company that offers them. So your challenge is to familiarize yourself with the coverage benefits so you know exactly what to expect from all the options available to help you determine which one works best for you. Get the best 2020 supp plans at https://www.medisupps.com/medicare-supplement-plans-2020/
Here are the most common Medigap insurance benefits and what they do for your medical needs.
- Medicare Part-A co-insurance – Available in all Medigap plans from A to N. Medicare coverage for Part-A co-insurance means you have to pay your share of the cost of the service you use. This applies after you have paid the deductibles. Suppose you had a Part A service and your co-insurance stating that you have to pay 20% of the fee for this service; In simple terms, this means that your Medigap coverage covers the remaining 80% of the bill.
- Medicare Part B coinsurance – This is available in all Medigap plans from A to N, but with specific limitations for plans K and L. This works much like co-insurance for Part A, except that it only covers classification for Medicare part B., You will pay the co-insurance rate as stated in your plan, if you have used a medical service that falls under Part B, while your Medigap coverage will cover the remainder of the bill.
- Blood Coverage – This coverage is available in all Medigap plans from A to N, but with specific limitations for Plans K and L. All Medigap Covers have a blood transfusion coverage of about 3 pints. This means that if a patient who has signed up for Medigap needs a blood transfusion, for the first 3 liters of blood Medigap will pay, and only if this is insufficient will the patient bear the excess blood costs.
- Part A Hospice Care Coinsurance – Available in all Medigap plans from plan A to plan N. It works in the same way as Part A and Part B co-insurance, except that it is unique to hospice care alone as prescribed by Medigap and Medicare. If you are entitled to hospice care, your insurer pays the fee remaining on the bill after you have paid your share of the costs.
- Co-insurance of care facilities – Only available in plans C to N and works like the other co-insurance conditions.
- Medicare Part A Deductible – Available only in Plans B through N. A deductible is the amount you pay before your insurance agent pays your healthcare.
- Medicare Part B Deductible – Only in plan C and F.
- Excess Medicare Part B costs – Medigap coverage only available in plans F and G.
- International Travel Emergency – Only available in plans C, D, F, G, M and N.
By understanding these Medigap coverage points, you can choose the right Medigap plan for your needs.