What is the need to opt for Medicare Supplement Plans

Medicare Plan provides health care coverage to those ages 65 and above who receive Medicare as part of their regular medical insurance. Medicare Supplement Plan is sold by independent private insurance providers. So when buying a Medicare Supplement plan, your rates will vary based on the type of plan you opt for and where you live. However, if you’re in the marketplace for a Medicare Supplement plan, you might be wondering what Medicare Advantage Plans cover.

Medicare Supplement Plan are typically known as medigap plans. They provide extra coverage to individuals who would otherwise not be eligible for Medicare benefits due to their advanced age or a pre-existing medical condition. Medicare Supplement Plans also includes Medicare Part A and Part B.

An individual Medicare Advantage Plan covers parts of their Medicare coverage. Medicare Part A usually covers physician visits, prescriptions and other generic services; Medicare Part B covers nursing home costs, durable medical equipment, hospital stays, diagnostic services, outpatient care, durable medical supplies and laboratory services. Medicare Part C covers additional health care services such as hearing aids, vision care, transportation, psychopharmacology and wheelchair coverage.

The Medicare Advantage plan can also cover additional types of services that Medicare does not offer, such as extended hospital stays, hospice and other inpatient hospital services, home health care, professional occupational therapy, psychopharmacology, diet therapy, psychotherapy and other services deemed necessary by the particular plan.

Medicare Plan offers different Medicare Supplement insurance policies to suit varying needs. Most policies offer guaranteed issue, guaranteed premium, flexible spending accounts, direct payment, and no deductibles. Some policies also cover dental expenses up to a certain limit and may even cover surgical expenses in extreme cases. Medicare Supplement plans are usually selected based on the type of Medicare coverage options that an individual requires.

To be entitled for Medicare Supplement insurance, one must meet the Medicare eligibility criteria. Eligibility criteria include being of legal age, being a citizen or eligible non-citizen, not receiving nursing home care or intermediate or permanent custodial care, not requiring specialized medical equipment or surgery and receiving Medicare part A or B, regardless of earnings. In order to find out more about Medicare Supplement insurance, Medicare provides the Medicare Examiners with a standardized form that they use to determine which applicants qualify for specific supplemental policies. The applicant will be asked to complete a questionnaire designed to evaluate various risk factors and the amount of monthly premium that would be applicable to them based on those factors.