Medicare Supplemental Insurance Plans
A Medicare supplemental insurance plan is a great benefit to help offset medical costs not covered by Medicare.
Medicare supplement insurance is an additional plan offered to Medicare Part A and B recipients which covers the out of pocket expenses that Medicare does not pay such as copayments, deductibles or coinsurance. This coverage makes costs more predictible and therefore more manageable for any Medicare recipient, especially those recipients on a budget or fixed income.
These plans generally only cover medical fees and services that are covered under Medicare and are considered medically necessary. However, these policies do occasionally offer coverage outside of typical Medicare coverage such as emergency medical treatment while traveling thoughout of the county, which is an option that Medicare does not cover. Another great benefit of a Medicare supplemental insurance plan is that you are able to keep your own doctors and specialists without ever needing a referral.
A Medicare supplemental insurance plan will take over where Medicare ends, picking up the slack in the billing and covering the extra costs associated. These plans do not, however cover such treatments such as long term treatment, nursing home care, etc. They also do not cover precription medicine costs as those must be covered under Medicare part D prescription coverage. These plans have helped many people receive treatment that they may have previously passed on due to the cost.
Similar to other Medicare programs, a Medicare supplemental insurance plan is sold by private insurance companies. They are however, regulated by the federal government. These private companies are successfuly assisting medicare recipients pay for necessary medical treatments and procedures not fully covered by medicare. The medicare recipience chooses the specifics of each plan which determines the premium cost. These premiums are paid out of pocket.