Most healthcare insurance plans, such as Medicare, are not comprehensive. However, there are policies such as Medigap or Medicare Supplement designed to boost the services as well as subsidize costs. Although open enrolment for Medicare is over, seniors can still buy the Medicare Supplement cover.
There are 10 different varieties of Medigap, but there is no plan that covers everything. Popular plans F, G, and N offer comprehensive coverage compared to the rest. Massachusetts, Wisconsin, and Minnesota have a different way of classifying the Medicare Supplement Plans.
Medicare Supplement F
It includes Medicare Part A coinsurance commonly called hospital insurance as well as hospice care. It also handles co-payments and coinsurance on basic benefits. Deductibles for Medicare Part A and Part B are also covered as well as excess charges in Part B. Interestingly, it covers up 80% of the costs incurred in foreign travel treatments outside the US.
Medicare Supplement G
This plan is similar to the Medigap F plan, except it doesn’t cater to deductibles that Part B beneficiaries incur. Therefore the plan might not be suitable for individuals requiring regular diagnostic, proactive treatment, and preventive services.
Medicare Supplement N
It caters for 100% of the coinsurance costs in Medicate part B except for the deductibles. It does pay for the excess charges you will incur under Medicare part B. the is a co-payment of up to $20 for physician visits and up to $50 for emergency room services that don’t result in an inpatient admission.
Where to get Medicare Supplement
Several companies are offering Medicare Supplement policies. For instance, Aetna is the least expensive, and besides the Medigap plans, it also offers cover for families. The other is Cigna, which prides itself as offering cover for those denied not covered by other providers. Others include Manhattan Life, Mutual of Omaha, and Blue Cross Blue Shield, among others.
However, it is important to compare rates because although the plans are regulated, they do come in various forms. The costs vary widely, and thus it is important to compare rates by receiving personalized quotes.