Many Medicare health insurance recipients are confused about getting additional insurance with medicare. This brief explanation helps understand why to consider supplemental insurance.
Although Medicare covers hospital costs with the Medicare Part A plan, Seniors will want to consider a supplemental policy. Plan A does not provide coverage for outpatient care, follow-up care, services by an in-house nurse, medical equipment or vaccinations. These types of medical services are covered in Medicare Part B. However, prescription drugs are not covered by either Part A or Part B.
For the greatest peace of mind, a supplemental policy, such as with medigap, is important. This private insurance plan pays for those health care costs that the main Medicare health insurance plans do not cover. It can cover a senior’s out of pocket costs including co-payments and deductibles. These supplemental policies will pay for services deemed necessary by Medicare health insurance.
Major illnesses and serious injuries from accidents can be financially devastating. Many times, the senior’s income will not be as high as it was during their working years. Even the very healthiest seniors on Medicare should consider supplemental insurance. They can rest more easily knowing that they are covered for costs of both health care and all prescriptions that Medicare Plan A or Part B will not cover.
Understanding how Medicare health insurance works can help a senior decide on a supplemental policy. Any remaining costs for medical services that are not covered by Medicare Part A and Part B are paid when a participate has a supplemental insurance policy. The monthly premiums are determined by the senior’s income. As income decreases, the cost of the premiums decrease. There are four supplemental insurance plans, Part A through Part D. Seniors will benefit by familiarizing themselves with these supplemental plans.