When choosing a supplement to Medicare plan, you need to consider your future as
well as your current health care needs when deciding which benefits you want and
need, because you might not be able to switch supplement to Medicare policies later.
While there are several different supplements to Medicare Insurance Plans available,
insurance companies are not required to carry each plan. Plans E, H, I and J were
eliminated last June of 2010.
Deciding which supplement to Medicare Insurance plan to choose is easier than you
might think. Contact you service provider so you can easily determine which plan
is best based on your current situation.
Supplement to Medicare policy is dissimilar to a Medicare Advantage Plan because
those plans are ways to get Medicare benefits; while a supplement to Medicare policy
only supplements your Medicare benefits.
Every supplement to Medicare policy must follow laws intended to protect you. Medigap
insurance companies in most states can only vend you a "standardized" Medigap policy
with plans from A to N. Each standardized supplement to Medicare policy must offer
the same basic benefits, no matter which insurance company sells it. Cost is usually
the only difference between Medicare Supplement policies.
A supplement to Medicare policy is health insurance sold by private insurance companies
to cover the gaps in Original Medicare coverage (Part A). It's also referred to as
Medigap. These policies will pay your co-insurance, co-payments or deductibles of
the costs of Medicare-covered services. It may also cover some benefits that Part
A doesn't cover.