Medical coverage is essential for all, especially the seniors, as any health issue can crop up due to age related problems. Nonetheless, it is better to understand the various plans that Medicare offers so that you are well equipped with the knowledge of what your particular chosen plan covers.
Knowing ABC of Medicare
One has to be familiar with the different plans that come under Medicare and what each plan offers.
Plan A is the Hospital Insurance that covers hospital care, home health care services, a short period nursing home care, skilled nursing for emergencies and hospice.
Plan B is the Medical Insurance that covers ambulance services, laboratory services like x-rays and blood check, mental healthcare, use of hospital beds and wheelchairs, prosthetics and orthotics as well as annual wellness checkups.
Plan C includes Medicare Advantage Plans that are available besides the base plans.
Plan D is the Prescription Drugs plan, which only private health plan providers offer.
Of these, plans A and B are the Original Medicare plans or basic plans. The Plan C offers added advantages to your existing coverage plans and may either compliment your existing plan or overlap it.
What are Medicare Supplement plans?
Over and above these basic plans, there are plans like G, N etc that offer different facilities. As the word suggests, “supplement” plan tries to cover the extra expenses that you may incur in health care and the facilities not covered by your base plan.(A and B)
Plan G covers the following additional expenses:
- Plan A deductible -A single annual payment of inpatient services.
- Plan A coinsurance charges to cover hospice care that is not covered in the base plan.
- Plan A copayment covering per-visit charges for inpatient care.
- Plan B copayment covering per-visit charges for outpatient care.
- Plan B’s extra charges for outpatient care: since the healthcare insurance provider does not fully accept Medicare benefits.
- Covering the additional nursing care expense that you incur that is not covered in the Original Medicare plan.
- A cover of up to 80% of the emergency medical transport costs that is essential for out of country travel. There is a lifetime coverage offer of maximum $50,000
- The plan also takes care of the first 3 pints of blood that is required each year and the remaining quota cared for by Original Medicare plan.
Plan N is very much like Plan G. However, it is a cheaper version of plan G as it does not cover a few aspects from Plan G in totality. For instance, Plan N does not cover Plan B extra charges, as that is a rare occurrence. Besides, it does not take care of some smaller copayments for plan B and one need to pay the nominal fees of $20 and $50 correspondingly for visit to medical office or an emergency room.
Medicare Supplement Plans providers
In general, private insurance companies provide Medicare Supplement. These companies may also offer the Medicare Advantage Plans and other basic health coverage.
Some leading names in the health insurance field offering Medicare Supplement Plans 2021 are Cigna, Humana, United Healthcare /AARP, Mutual of Omaha and Aetna.
It is advisable to study each one’s offers carefully and compare their rates before finalizing the Medicare Supplement Plans 2021 service provider.