If you are getting closer to the eligibility age for Medicare coverage, you should know that the plan alone won’t cover every health care expenses. Original Medicare only covers 80%. The remaining percentage is covered by deductibles, copays and coinsurance.
Getting a Medigap coverage
A Medicare supplement insurance also known as Medigap is sold by the private health insurance Florida companies and can be very helpful in paying some health care expenses that are not covered by the Original Medicare policy. These expenses include deductibles, copayments and coinsurance.
Some of the Medigap policies also provide coverage for particular services that are not covered by Original Medicare, such as medical care when travelling outside the country. Medigap supplements the benefits of the Original Medicare policy. Medigap policy have a uniform benefit design with policies named from letter A all the way to N.
Medigap are regulated by states which means that not all plans are available in every state. States such as Wisconsin, Massachusetts and Minnesota have plans that are not standardized. Out of the standardized plans, Plan A has the most basic coverage. The most comprehensive plan is F, which covers coinsurance, deductibles, foreign travel care, excess charges of Part B, blood, skilled nursing.
It’s important to note that Medigap policies usually do not cover everything. For instance, long term care, prescription drugs, dental care, hearing aids, private home nursing and vision are not covered by Medigap. That means if you have any issues with these excluded coverage, you’ll have to get a supplement insurance coverage from providers such as Florida Blue.
It is worth noting that some of the Medigap policies purchased in the past, before January 1st, 2016 may cover the prescription drugs. Those that were bought after January 1st this year are not allowed to cover prescription drugs. If you want coverage for prescription drug, you can join Part D of Medicare plan, which is the Prescription Drug plan.
Are you considering to get yourself a supplement insurance coverage? Explore your options with Medicare Medics and find the most comprehensive plan today.