Medicare and Medigap supplements are intended to cover the majority of senior citizens’ health care costs. Medicare does not pay for “conventional” doctor visits, but these types of services are available as an “out of pocket” choice. Medicare supplement insurance plans can change at any time. Each month that passes means that the options for a Medicare Plan G will decrease. As seniors age, the need for more Medicare options grows.
When Medicare and Medigap supplements plan options decrease, so do the benefits. There are many important questions to be answered when considering the option of switching from one Medicare plan to another. Does Medicare now offer a “stop-gap” policy?
How do the premium costs affect the Medicare Allowance for Medigap policies? Are there new rules for “safely declining” Medicare Part B and D medication? And, is the Medicare Advantage Plans Association (MAA) similar to other trade organizations such as Aetna or United Healthcare?
Medicare Supplement Plan I (Medigap I) was created by the Health Insurance Portability and Accountability Act of 1996 (HIPAA). The act intended to change how Medicare pays benefits, by allowing beneficiaries to choose from a variety of health insurance plans provided by private insurance companies. Although Medicare does not pay for in-home care, it does cover some nursing-home care.
Therefore, the intent was to provide senior citizens with the freedom to choose any health insurance plan. For example, if one wished to purchase Medicare Part B, but chose a Medigap plan G with a lower premium, the difference would go to paying for services in a nursing home instead of an in-home care facility.
To take advantage of this freedom, seniors should understand what their current health insurance options are. Currently, Medicare provides two primary options: Medicare Advantage Plans (PART A and B) or Health Maintenance Organizations (HMOs).
For those choosing a Medicare Advantage Plan, the primary coverage option is usually Medigap Part A, which covers hospital expenses up to a maximum level determined by the insurer. Medicare Part B is a more flexible option, providing various choices for primary coverage, which is usually dictated by the health insurance carrier.
Choosing a Medicare Supplement Plan within Medicare Part A is very similar to choosing a Part D provider. The only difference is that you will be paying a monthly premium to help defray the costs of the Medicare prescription drug coverage.
Some of the Medicare Supplement Plans that are most popular include Medicare Part D (commonly called Medicare Part D) and Medigap Medicare Supplement. Before choosing any supplement plan, consumers should research each plan carefully to ensure that it meets the needs of their current medical conditions, as well as their long-term medical plans.
Although the choice of a Medicare Supplement Plan is not an easy one, the benefits offered can help make the choice easier. Seniors may be pleased to know that these plans can help with many common medical issues, such as arthritis, obesity, and arthritis treatment. Choosing a Medicare Supplement Plan will allow seniors to maintain their quality of life while taking care of their needs at a very affordable price.
