Medicare supplement insurance can protect you from direct Medicare costs

Medicare supplement insurance can protect you from direct Medicare costs

In Washington, there is an ongoing debate about Medicare. Millions of older and younger people who depend on Medicare for disability are caught in the middle. In times of uncertainty, it is important to avoid more direct expenses and withhold your savings to be prepared for changes in Medicare benefits.

This requires understanding what the Medicare government now covers. Medicare is divided into four categories of benefits: Part A, Part B, Part C and Part D. Part A covers hospital stays, home health care and palliative care. Part B deals with medical services and laboratory tests. Part C refers to Medicare Advantage Plans that can replace Original Medicare provided by the government, including the benefits of Parts A and B, along with prescription coverage. If you do not have this Part C prescription drug coverage, you may be interested in Part D, which covers only prescription drugs.

Basically, when you receive one of the Medicare benefit plans, you replace private insurance with Original Medicare. However, these particular plans must comply with Medicare rules to provide all coverage available in Medicare and some others. They usually offer drug coverage (but not all plans cover all medications) and generally add dental and vision services. However, these plans are not universally available. If one of these plans is available where you live, you can offer the best rates and accept plans regardless of any pre-existing condition, except end-stage renal disease (DRT). In addition to the four Medicare options, there is an alternative known as Medicare Advantage plans that fills the gaps in Original Medicare. These Medigap plans cover services that Medicare does not cover. For example, a Medigap Plan can pay 20% of all medical bills that Medicare beneficiaries must cover. With 10 different types of Medigap insurance, you can choose the benefits you probably need.

Medigap plans are differentiated by letters such as Plan A, Plan B, etc. The Medigap F Plan offers the most complete coverage, but, as with other types of insurance, extended coverage is priced. Plan F was the most popular, but Plan G may be a cheaper solution this year. This is because preventive services are now fully covered by Original Medicare. You will no longer have to pay 20% of the doctor’s fee for an annual check-up, flu shots and certain screening procedures that can detect common forms of cancer, diabetes, high blood pressure, heart disease, etc. Medigap Plan G has all the benefits of Plan F, with one exception. You are not reimbursed for the Medicare Part B deductible for medical services.