Medicare supplement plans replace the original Medicare coverage, which was created by former President Harry Truman. Medicare supplement insurance pays out-of-pocket expenses not covered by Medicare, including copays, deductibles, and coinsurance. Some plans can even help cover extra benefits original Medicare does not cover, including emergency care outside the United States or the first three months of prescription medication. Medicare supplement plans are available in all 50 states. Although Medicare supplement plans are commonly referred to as Medicare Advantage Plans, they are not intended to be considered insurance.
Medicare supplement Plan benefits. There are several Medicare supplement plans 2022 available to policyholders. There are also several options during an open enrollment period for those considering changing their Medicare coverage.
Inpatient hospitalization benefits. Medicare supplement plans can cover a portion of your out-patient hospital expenses. In order to receive inpatient benefits, you must enroll in a Medicare Advantage Plan after selecting the hospitals that are part of your Medicare coverage. If you enroll in an Advantage Plan that does not cover inpatient hospitalization benefits, you will need to pay 100% of your out-patient hospital expenses.
Certain drugs and devices. Certain drugs and devices that are part of original Medicare cannot be covered by some Medicare supplement plans. In order to receive certain medications that are deemed necessary under original Medicare, you will need to enroll in a Medicare Part D plan. These medications include some cholesterol control medications and non-steroidal anti-inflammatory drugs (NSAIDs).
Other items. There are a number of other items that Medicare supplement plans do not cover. These include adult diapers, hearing aids, hospital rooms, home health care services, and some prescription drugs. It is important to carefully review all of your Medicare options, including plan it, before making any decisions.
Medicare supplement plans are intended to supplement the original Medicare coverage, and are not intended to replace it. While they can save you money on premiums, they may not cover some of the services originally covered. Also, keep in mind that not all of these plans are standardized, so it’s important to understand all the details of the plan you choose. Your local Medicare representative is a great resource for more information.
Many people purchase supplemental health insurance plans when they first get their Medicare coverage. For many people this is a good idea, since it allows them to keep getting the same benefits they already have. Still, it is possible for you to enroll in both Medicare Part A and Part B and receive a discount on the total costs of these policies. Part A benefits pay for hospital expenses and other inpatient medical care, and Part B covers some of the outpatient care you receive at a health care facility. To qualify for these discounts, your current health insurance plans must cover at least part of the costs of inpatient hospitalization.
There are several ways to understand how Medicare supplement plans work. First, you must know that Medicare does not cover any pre-existing condition, and coverage for prescription drugs is at the discretion of the insurance company. Second, you must also realize that sometimes the plan premiums apply to benefits you never receive.
Medicare supplement plans can be used to offset the costs of nursing home care, but they do not cover all of the costs associated with staying in a nursing home. If you or a family member needs to stay in a nursing home, Medicare may be your best option. Medicare will pay a portion of the cost of a nursing home, but it does not cover all of it. For more information on Medicare supplemental insurance, contact the Commission on Medicare website.