Does Everyone Need A Medicare Supplemental Plan?
Surprises often await a Medicare recipient when he receives a bill for medical services rendered and opens the envelope to discover that there is a large balance due out of his own pocket. No one wants the pressure of unexpected and unknown expenses that can be thrown at them through the gaps in Medicare coverage.
Medicare Supplement Plans
For that very reason, many consumers realize the importance of having a Medicare Supplement Plan to fill in the gaps and help pick up the charges that Medicare does not pay. A term has been coined to refer to these types of supplemental insurance plans - Medigap. Things like deductibles and co-payments are some of the costs that regular Medicare does not usually cover. But a Medicare Supplement Plan is designed to help pay for those sort of costs.
Private insurance companies are the entities that provide Medicare Supplement Plans. Each insurance company providing a Medigap insurance policy must be licensed to do business in the state for which that company is providing coverage. As well, the insurance companies are regulated by the Department of Insurance in each of the individual states.
What Is Covered?
It is important to note here that Medigap policies only cover medical services that Medicare has deemed to be medically necessary. If you travel outside of the United States, you may want to look at the benefits of a Medigap insurance plan that will pay for emergency medical services in a foreign country. Basically there are 12 separate Medicare Supplement Plans, from letter "A" to letter "L," with various combinations of benefits. You can choose the plan that works best for you.