Medicare Supplement Plan – Which Medicare Supplement Plans Should I Compare?

Medicare supplements get more info are part of a group of insurance policies known as Medicare Advantage Plans. Most people are familiar with Parts A and B of the Medicare system, including prescription coverage and mental health benefits. Medicare Supplement Plan N incorporates 100 percent of the original Medicare Parts A and B coinsurance, with two exceptions. You are still responsible for paying:

Plus, you must pay for an annual deductible for your Medicare supplement plan. That amount is separate from the regular premium you pay for Medicare Parts A and B. Deductibles can vary from one policy to another, depending on your age, location and health care needs. The cost of Medicare coverage may increase in coming years, so it’s a good idea to plan ahead.

When considering Medicare supplement plans, it’s also important to remember that not all of them will cover all of the services provided by hospitals in your area. Each plan is designed to emphasize certain medical situations. For example, Medicare Supplement Plan F is designed to cover the costs of catastrophic hospital stays, usually related to a sudden illness or injury. Medicare Advantage Plans F and G both include emergency care at a hospital. Medicare Part A and Part D both provide health care as well as disability income.

There are several things to consider when comparing different Medicare supplement plans. First, you need to look at the additional benefits of each policy offers. Medigap policies generally cover prescription drugs, but may not cover dental care. Consider the additional benefits each health plan offers to help pay for your medical expenses. Some polices also include vision and dental benefits.

Second, consider the maximum out-of-pocket expenses you’ll be required to pay during the year under each plan. Medicare Supplement Plan F is the only health plan in the Medicare system that will force you to pay nothing out-of-pocket during the first 60 days you receive care in an inpatient facility. The remaining plans allow you to choose the level of inpatient care you’ll need, with the highest limit being one day. You also have the option of receiving care in a hospital or nursing home as well as in an inpatient facility.

You should also compare any riders that are included in the Medicare supplement policy. A few examples include emergency room visits, prescription drugs and hearing aids, chiropractic services and psychotherapy. You can save money on some of these services by opting for a rider, which is an additional coverage enhancement tailored to your unique situation.