Choosing Medicare Supplements – What’s the Difference?

Medicare supplement plans also known as medigap are sold by private insurance companies. These plans help cover the cost of medicare expenses that original medicare does not pay. These costs can include copayments, coinsurance and deductible. There are eleven standard plans. They are identify by letters A-N. Although there are many insurance companies that offer supplement plans, they must all offer the same basic coverage. The cost of the plans among companies may vary even through they offer the same coverage.

Supplement Insurance Plan

Medicare supplement Plan A is the minimum coverage you can purchase. This policy is also known as the core benefits package because each of the other 10 supplement plans contain these basic benefits with the addition of a few others. This policy covers coinsurance for any hospital stay and a medicare reimbursement amount for any extended hospital stay. Supplement insurance plan A is the least expensive of all the supplement plans.

Benefits Offered by Various Plans

Most of the remaining plans offer the basic core benefits that are included in Part A. Part B covers basic medical expenses along with basic benefits. Part C offers coverage for an individual’s primary medical expenses above the basic benefits. Part D has lower premiums than the more comprehensive plans. Part E is used by most people because it offers extensive coverage. Part G covers most of the main medicare health expenses. Plan K will pay 100% medicare approved cost once a person has paid some out of pocket cost. Part L will allow those with low medical expenses the ability to paid out of pocket deductible which will result in low monthly payments. Plans M and N are similar and they allow an individual to participate in a cost sharing system to keep the premiums low.

Related posts

1. How Do I Know Which Medigap Plan Is Right For Me?
2. What Is The Best Supplement Insurance For Medicare?
3. What Is The Most Popular Medicare Supplement Plan?
4. Are Medicare Supplement Plans The Best Solution For Everyone?
5. What Is Medicare Supplement Plan L?

One Response to “Choosing Medicare Supplements – What’s the Difference?”

1. Tanya says:

   December 5, 2010 at 12:20 pm

   Please let me know if you cover individuals under 65 who are disabled?

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