Have you been advised by your friends and colleagues that you should apply for Medicare Supplement Plans? If you are hearing this term for the first time, you might feel confused. For your information, these plans are offered y private companies for compensating the health care expenditures that the original Medigap insurance does not offer you. However, in order to make a better decision whether to apply for it or not, you need to know about the following things:
Have Plan A and Plan B
In order to avail the Medicare Supplemental Plans, it is mandatory that you have a previous subscription of Part A and Part B of the original Medicare plan. For your information, the Part A of this policy entitles you to get the healthcare coverage for all the medical consultations and nursing care that you avail within their specified network. On the other hand, the Part B of the policy mostly reimburses all the expenses made on medical services within the network, some coverage are given for a few out of network services too.
Leave one to get another
You cannot continue with both Medicare Advantage Plan and Medicare Supplement Plan simultaneously. You have to leave the advantage plan before applying for Medigap. Therefore, it is better to enjoy the benefits of the Medicare Advantage Plan for some time, then drop it and apply for the Medigap Plan.
You incur two premiums
You must be aware of the fact that nothing comes for free. This rule applies here as well. As you know, when you opt for Medigap, you have to run Part A and Part B. Therefore, you have to bear the burden of two different premiums at the same time for enjoying the benefits of both the policies. One premium should be paid to the private organization for keeping the Medigap active, and the other should be paid to the federal authority for running your original Medicare plan. However, you do not have an alternative option too, and have to continue both at the same time. Hence, it is essential to check your affordability before applying for these Medicare Supplemental Plans.
Resource Blog: https://medigap4seniorsblog.wordpress.com/2015/11/20/things-that-need-to-be-considered-before-applying-for-medicare-supplement-plan/
Have Plan A and Plan B
In order to avail the Medicare Supplemental Plans, it is mandatory that you have a previous subscription of Part A and Part B of the original Medicare plan. For your information, the Part A of this policy entitles you to get the healthcare coverage for all the medical consultations and nursing care that you avail within their specified network. On the other hand, the Part B of the policy mostly reimburses all the expenses made on medical services within the network, some coverage are given for a few out of network services too.
Leave one to get another
You cannot continue with both Medicare Advantage Plan and Medicare Supplement Plan simultaneously. You have to leave the advantage plan before applying for Medigap. Therefore, it is better to enjoy the benefits of the Medicare Advantage Plan for some time, then drop it and apply for the Medigap Plan.
You incur two premiums
You must be aware of the fact that nothing comes for free. This rule applies here as well. As you know, when you opt for Medigap, you have to run Part A and Part B. Therefore, you have to bear the burden of two different premiums at the same time for enjoying the benefits of both the policies. One premium should be paid to the private organization for keeping the Medigap active, and the other should be paid to the federal authority for running your original Medicare plan. However, you do not have an alternative option too, and have to continue both at the same time. Hence, it is essential to check your affordability before applying for these Medicare Supplemental Plans.
Resource Blog: https://medigap4seniorsblog.wordpress.com/2015/11/20/things-that-need-to-be-considered-before-applying-for-medicare-supplement-plan/
No comments:
Post a Comment