lynetteconveThe supplement plans are healthcare insurance plans that provide cover for some of the areas that are not covered by the Medicare program. They do not work like conventional medical plans as they do not cover any health benefits. On the other hand, they cover the deductibles as provided in your Medicare insurance.
They take care of your co-insurance and also take care of hospital costs when the Medicare-covered days have lapsed.
Similarly, they also take care of the expenses for nursing facilities after the Medicare days have lapsed.
How does it work?
The plan includes payment of a monthly premium. When you visit your doctor for some ailment, you are not liable to pay the 20% coinsurance that is required by Medicare. This part of the expense is paid by Medigap. This is the amount due to the cost of health care which has to be paid by you.
There are certain conditions that have to be fulfilled before you buy Medicare Supplement Plans. One, your age should be 65 or more, and secondly, you should be insured for Medicare benefits that cover the initial parts of the insurance namely, part A and part B. These can be discussed in Medicare Supplement Plans 2021.
Another interesting aspect of the Medicare Supplement Plan is that only one individual can be covered under these plans. In case you require a supplement plan for your spouse and yourself, then you have the buy the plans separately.
A majority of the Medicare Supplement Plans allow you access to any doctor or hospital that is endorsed by Medicare. At the time of making a claim, the Medicare card has to be produced along with the ID card for your Medicare Supplement plan.
On making a claim, initially, the plan will settle your portion of the bills which would be around 20% of the total billing. The balance 80% would be settled by your Medicare cover. However, this would again be dependent on the coverage and the premium that you pay.
Having a Medicare Supplement plan may help to coordinate the payments with Medicare and the hospital where you have undergone the treatment. This effectively means that you do not have to worry about the paperwork involved in filing a claim.
Till the year 2006, cover for prescription drugs was also included in all Medicare Supplement plans.
This was stopped during that year and all the supplement plans introduced beyond 2006 do not provide cover for prescription drugs. Your share of the cover for problems related to the teeth, eyes, and ears can be settled by this plan. However, routine eye, teeth, and ear problem cover which are not insured by Medicare do not form part of the supplement plan.