If you already have a Medicare plan, you probably know by now that it isn't a catch-all insurance plan that covers anything. There are still plenty of out-of-pocket expenses you are responsible for. Did you know, however, that there is a way for much of those expenses to be covered through a supplement plan?
What is Medicare Supplement Insurance?
A Medicare supplement plan is a plan you can purchase from private health insurance companies like http://scis.us that will pay for various health care costs that are not covered by Medicare parts A & B. This includes items like co-payments, coinsurance, deductibles, and medical care when traveling outside the United States.
Why Should You Get a Medicare Supplement Insurance Plan?
Medicare supplement plans will cover costs that you would have otherwise had to pay out of pocket - mainly deductibles, but also including the following services:
- Long-term care at home or anywhere else outside of a nursing home.
- Over 100 days of Skilled Nursing Facility care after a hospital stay.
- A private-duty nurse
- Emergency care while traveling outside the U.S.
- Cosmetic surgery
- Cooking or cleaning home services (see your local laws for details)
- Hearing aids
- Dentures and other dental care
- Eye care including eyeglasses
- Hospital stays over 60 days, up to 90 days, with co-payments for stays longer than that.
- Hospice: coinsurance for inpatient care and outpatient drugs.
Having a Medicare supplement insurance plan will help you minimize your medical treatment costs throughout the year. It is a good way to round out your health care coverage.
What Are the Eligibility Requirements?
- You need to be a resident of a state where the Medicare supplement policy is offered.
- You must have a Medicare Part A or Part B in order to be eligible for Medicare supplement insurance.
- You must be age 65 or older. In some states you may be eligible even if you're under the age of 65 if you have a disability or end stage renal disease. Check the rules and regulations specific to your state for information specific to your area.
What Else Do I Need to Know?
Medicare supplement plans are standardized. This means that the benefits are exactly the same from one plan to plan from each health insurance company. A Plan C will be the same in one insurance company as the Plan C in another insurance company. The only difference is really the insurance company, pricing, and customer service experiences between each company.
Seriously consider getting a supplement plan in addition to your current Medicare coverage. Your wallet will thank you later, as out of pocket expenses can add up without any supplemental coverage.