Medicare Part A and Part B, sometimes called Medicare Supplement Plans are insurance programs that are intended to fill in the gaps left behind by Medicare coverage. Medicare does not pay for entire hospital stays, but it does provide coverage for most of what is considered a hospital stay. This is where Medigap Plan G comes in.
Medicare Part A is the program that covers medical supplies and doctor visits, as well as some prescriptions. Medicare Part B is the prescription drug benefits. These two portions of the program are known as Medicare Advantage Plans. The idea behind Medigap insurance plans is to assist with out-of-pocket expenses, however, basic Medicare doesn’t cover, and every media policy applies only to one individual.
For example, if you were in a situation where you had to pay for your own medicine, Medicare might not be the best plan for you. For this same example, it wouldn’t be the best plan for your spouse. If you both need different kinds of medication, the best plan would be to have both covered under one policy. With a Medicare Supplement Plan, the various benefits are provided through a single plan. That means that all of the different medications that you or your spouse needs would be covered under one policy, even if those policies did not cover everything.
Some additional benefits are available from some Medicare Supplement Plans. Medigap Plan G, for example, is a type of Medicare Supplement Plan that covers the costs of extended health care coverage, like prescription coverage and disability. Excess benefit plans typically cover the costs of any additional diagnostic tests that Medicare doesn’t cover. This type of plan usually covers up to a maximum amount that Medicare will pay for.
If you have Medicare supplemental insurance but you are not satisfied with all of the coverage provided by the plan, then you may want to enroll in Medicare Part B, or Medicare Advantage, which covers some of these extra benefits. You can enroll in both plans at the same time. Part A coverage pays your primary Medicare benefits, while Part B pays the difference. For example, if you have both Part A and Part B, your premiums will be equal.
These are some of the basic information about Medicare plans and why the best Medicare plans are preferred by seniors. It is best to do a little research so that you can understand Medicare fully. Many options are available to make sure that you get the kind of coverage that is right for you. Medicare can be a wonderful asset and a lifesaver, but you should be careful about enrolling in the wrong plan.