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What Are Medicare Supplements
Often referred to as Medigap, Medicare Supplements are an excellent option for many individuals to get the all-around protection and benefits they need.
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Medicare Supplements Explained
You can purchase a supplement plan in addition to your Original Medicare plan. Both Part A and B cover benefits for inpatient and outpatient care, as well as general medically necessary items and services. While Original Medicare does provide great coverage, it doesn’t cover everything. You will have out-of-pocket costs to pay.
With a supplement, a lot of these costs are covered depending on the plan. For a separate premium, you receive coverage for coinsurance, deductibles, copayments, and much more. So, a supplement literally “supplements” your Original Medicare coverage.
Medicare Supplement Coverage
But what exactly do supplements cover? It depends on the supplement plan. There are 10 options—A, B, C, D, F, G, K, L, M, and N, each with its own unique coverage. These benefits include:
- Part A coinsurance and hospital costs (up to an additional 365 days after Medicare benefits are used up—benefits are limited to 60 days per year): Included in all plans.
- Part B coinsurance or copayment: Included in all plans, with 50% coverage in Plan K and 75% in Plan L.
- Blood (first 3 pints): Included in all plans, with the same 50% and 75% for plans K and L, respectively.
- Part A hospice care coinsurance or copayment: Included in all plans, with the same 50% and 75% for Plans K and L.
- Skilled nursing facility care coinsurance: Included in all plans except Plans A and B, with the same 50% and 75% for Plans K and L.
- Part A deductible: Included in all plans except Plans A, with the same 50% and 75% for plans K, M, and L, respectively.
- Part B deductible: Included in Plans C and F.
- Part B excess charges: Included in Plans F and G.
- Foreign travel exchange (up to plan limits, up to 80% of the total cost): Included in Plans C, D, F, G, M, and N.
Medigap Enrollment And Eligibility
Anyone is eligible for a Medicare supplement when they turn 65 and are enrolled in Original Medicare. Once this happens, you will have six months to enroll in a plan. You can still enroll in a plan after these six months, however, you may be put through medical underwriting or charged more in premiums.
Insured For Life Works for You
We understand that finding Medicare coverage can be a confusing process. That’s why we work to make your Medicare options easy to understand. To learn more about Medicare Supplements, give us a call today.
