Medicare supplement insurance is important for all people who have turned 65 and have joined Medicare. If a person has a critical illness or injury that can last a long time, the medical bills can be tremendous and overwhelming for a person facing medical problems.
Medicare does pay a portion of the medical bills one may acquire, the same as private insurance plans, but it will only pay 80% of the total bill. Thus the patient will be responsible for the 20% excess medical procedures incurred from their illness and can be difficult and cause much stress for the recovering patient.
These Medicare Supplement plans are called Medigap. They have been devised to cover the remaining amount of 20% of a person’s medical bills that Medicare does not cover.
Even though Medicare is controlled by the Federal government, Medigap insurance plans must be purchased from private insurance companies. They must follow the rules and regulations put forth by the government to insure everything is the same in each company. Going through each plan will inform the person deciding on a Medigap plan what will meet each individual’s needs,
Medicare has two plans called Medicare Part A and Medicare Part B. Medicare Part A covers hospitalizations while Medicare Part B will cover physician visits, medical tests that a physician may require, medical equipment and other medical needs. As said before, these are only 80% covered with Medicare. The 20% left unpaid by Medicare is the responsibility of the patient.
For those who have gotten Medicare Plan A and are considering getting Medicare Plan B, they will need to join within 6 months of acquiring Medicare Part A. The cost of Plan B will increase if a person joins beyond the 6 months. This can increase as each year extends beyond the 6 month limit.
Another piece of information one may consider is that all the Medigap plans are the same between all insurance companies.
United Healthcare medicare supplement have been designated a letter which are letters A-L. Each of these plans will cover certain medical needs that a patient may require. They should be looked at carefully to distinguish what one may be required for their medical needs. The premiums for the Medigap plans are contingent on what insurance company a person may decide upon. The premiums can vary greatly between each Medigap insurance plan. Also the premium cost can be different in each area one resides.