The Medicare Supplement Plans are excellent healthcare options that must be sought after by the senior citizens. These plans offered by the private insurance companies are very beneficial as they fill the inevitable gaps that are present in Medicare. The Medicare Supplement Insurance or Medigap is of great use as it covers cost like deductibles, coinsurance and copayments. The other services that are covered include medical care especially at times when you tour outside U.S.
Difference between Medigap Policy and Medicare Advantage Plan
Medicare Advantage Plan and Medigap policy vary from each other and it is a useful plan to gain more Medicare benefits. The Medigap policy supplements the benefits of Medicare benefits only and it is important to know that the Medigap policy comprises of Medicare Part A as well as Medicare Part B. It is likely that you opt for a Medigap policy even if you have a Medicare Advantage Plan. However, it is necessary that the Medicare advantage plan should be left before commencement of the any new Medigap policy.
Monthly premium needs to be paid for the Medigap policy in addition to paying for the premium of Part B which is paid for the Medicare. The Medigap policy can cover the healthcare cost of only person and separate policies need to be bought if you want for your partner. The Medicare supplement plans must be purchased from a licensed insurance company in your state. The benefit of this plan is that the insurance company cannot cancel your policy as long as the premium is paid and the policy is renewable.
Cost Not Covered by Medigap Policy
In the past most of the Medicare policies that were sold also covered the costs for prescription drugs. It is illegal these days to sell the Medigap policy especially if you have a MSA account or Medicare Medical Savings Account. The costs that are not covered by the Medigap policy include dental care, long term-care, hearing aids, private duty nursing, vision and eyeglasses. Some of the insurance plans that are not Medicare supplement plans include the Medicaid, Medicare Prescription Drug Plans and the Private Fee for Service Plan.
Find Perfect Medigap Policy
If you wish to give away your Best Medicare Supplement Plans 2018 than it very necessary, that you pay penalty for late enrollment at the time of joining a different plan. The best way to find a perfect Medigap policy would be to call Medicare and gain information about Medicare choices available and that match your requirement.