If you are already covered with Medicare original, am sure you are wondering if you can get a Medicare supplement plan. There are many websites with so much information on Medicare supplementary plans and some are not that easy to read and understand. Even after reading so much information, many people still ask if it is necessary to have a Medicare supplement plan on top of the insurance they have. There are many reasons why anyone would need Medicare supplement plans on top of the insurance they have.
What is Medigap
To understand Medigap, you also need to understand what it does and why you need it. Medigap is another name for the Medicare supplement plan. It is just a supplement to Medicare coverage. Depending on the coverage that you choose, Medicare supplement plans are meant to provide more coverage or additional coverage for most of the routine services and expenses that original Medicare doesn’t cover. Things such as long term care, dental coverage, and vision healthcare needs can be covered under the Best Medicare Supplement Plan N. The reason to have a Medicare supplement plan is simply to be reimbursed for the healthcare costs that you pay from out of your pocket directly. In any insurance plan, you must pay highly for higher coverage. When you go for a less expensive plan, you should be expecting high deductibles as well.
Why you need to buy more insurance
Medicare supplement plan is not a blanket insurance plan. It is just a plan that comes in when you have to pay out-of-pocket costs. It bridges the gap left by the original Medicare supplement plan. It also means that it has holes in it. The original Medicare insurance is known as part A and part B and the drug coverage which is part D will pay most of your medical expenses but not all expenses. If you get seriously ill or you get injured, you will be needing an extra insurance policy. There are also routine services that will make you incur the cost of deductibles and copayments. This is where Medicare supplement plans come in. There are many reasons for anyone to need Medicare supplement plans. Here are some of them
- Medicare deductibles
When you are admitted to a hospital, you will have your original plan paying for most of your insurance needs and costs but not everything will be paid. Your original cover will pay for the basics, the bed, and the board. However, you will also end up with almost 20% of other out of-pocket-costs. A good example is the anesthesiologist fees. If you are planning to spend in a hospital for more than 60 days, you will also be needed to spend extra. That is where Medicare Supplement Plan N comes in. The copayments for long stays and nurse visits can be covered when you choose to go for an extra Medicare supplement coverage. Deductibles are also expected to be part of your bills. This is why you will be needing an extra insurance plan.