Medicare Supplements

Many seniors who are covered by Medicare find that there are some healthcare services for which their insurance plan doesn’t pay. If Medicare does not cover all of your hospital or other medical expenses, you will probably want some kind of senior Medicare supplement plan to help you pay for additional healthcare costs. These supplemental insurance policies, sold by private insurance companies such as Anthem, Blue Cross, and Blue Shield, are often called Medigap and extend the amount of health insurance for those eligible for Medicare.

To obtain a Medicare supplemental plan, you must already be enrolled in Medicare Part A and Part B, the most basic Medicare plans. But Plan A and B don’t cover all of these expenses, and Medicare requires you to pay deductibles and co-payments, and it doesn’t pay for anything that goes above Medicare allowable charges. A Medicare supplemental plan will help protect your assets if you suffer from a prolonged illness or severe injury requiring a long hospital stay.

There are *12 standardized Medigap Medicare supplemental insurance policies from which to choose. All of these plans, from A to L, cover Medicare co-payments for hospitalization and medical care. Some of the plans also take care of Medicare Part A and B deductible. All of the Medigap plans pay for additional days in the hospital beyond the 60 days covered by the Original Medicare plan, Plan A. Other Medigap plan benefits include help with skilled nursing home costs, “excess charges” if you are treated by a doctor who does not accept Medicare, emergency care outside the U.S., at-home recovery provided by a nurse, or occupational or speech therapist; and prescription drug costs.

Each senior Medicare supplemental plan covers different types of healthcare, but most pay up to 100 percent of Medicare-eligible expenses that aren’t covered by the Original Medicare plan. Most people review supplemental plans offered by different private insurance companies to find the policy that most suits their needs as well as covering deductibles and annual maximums. And remember, you will always get the highest level of coverage and pay the lowest costs when you see a physician or specialist who accepts Medicare plans.

As of January 1, 2010 some Medigap plans will no longer be offered, while two new plans, M and N, have been added. You can check with the AARP, www.aarphealthcare.com, for the most up-to-date information on each plan. Massachusetts, Minnesota, or Wisconsin offer different Medigap plans from the rest of the country.