Is There Difference Between Medicare Supplemental & Wrap Around?
Medicare wrap around can help pay for deductibles not covered by Medicare. These are the costs that you are generally responsible for paying. Medicare wrap around will cover co-insurance fees. Also, wrap around insurance can pay for hospital and nursing home services once your Medicare coverage limit has been reached.
How Does Supplemental Insurance Differ from Wrap Around?
Supplemental insurance provides coverage of some medical costs not covered under Medicare. It typically does not pay for deductibles or co-insurance fees. Both supplemental insurance and Medicare wrap around help keep your out of pocket expenses low. However, they were both designed to pay for different parts and services of your medical costs.
Supplemental Insurance and Wrap Around Differ but Also Work Together to Complete Coverage
There are 12 standard Medicare supplemental insurance plans available. Each are different and provide varying coverage. Not all plans are available in every State. Some Medical supplemental insurance plans provide coverage for prescription drug costs. Wrap around does not provide coverage for prescription drugs. Part B of Medicare typically has a 20% co-pay. This co-pay may be covered with wrap around insurance.
What is Not Covered By Supplemental Insurance Plans?
Medicare supplemental insurance plans do not cover long term health care costs. These services include nursing homes or a private in home nurse, long term. Supplemental plans typically do not pay for the costs of eye wear, vision care, dental care or hearing aids. Medical supplemental plans typically do not pay for preventative care not covered by Medicare. Medicare supplemental plans typically do not pay for co-insurance or co-pays. That is where wrap around comes in and provides coverage of co-insurance and co-pays.
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