Medicare Supplemental Insurance Plans – Guidelines For Selecting Or Changing Plans
Medicare supplemental insurance plans provide coverage for expenses that are not addressed by the original Medicare program, Parts A and B. Some plans focus on “core benefits,” while other emphasize covering the deductibles and out-of-pocket expenses for outpatient care.
Although there are 12 different plans, not all of them are offered nationwide. Despite the fact that providers can sell all plans, they very often do not. This makes selecting a plan more complicated than it could be. You may be wondering how to select a plan and what to consider when going though your options. It is important to note that all companies offer similar, standardized plans.
Medicare is a compromise between what type of health care is needed for senior citizens and what the government can provide. Medicare supplemental insurance plans are the solution to these “gaps” in coverage. They cover items that Medicare cannot afford.
This includes the costs of extended hospital stays, specialized therapeutic care and coverage for emergencies that occur abroad. Before enrolling in a plan, you should understand what the coverage options are and the rules that govern changing policies. If you are still employed and covered under a group health plan, it may affect your Medicare options.
For seniors that are not covered by an HMO or PPO type of plan during their initial enrollment period, it is recommended that they join Medicare Part B and Part D. They cover medical insurance and certain prescriptions, respectively. Most people are automatically enrolled in Medicare Part A when they become eligible for Social Security.
If you are currently covered by a health plan from your employer, trade union or a special program, do not select Medicare supplemental insurance plans or change your coverage until you speak with the Plan Administrator. They will be able to tell you which options will be best for your current situation.
There are specific guidelines that govern when you can enroll in Medicare and when you can switch from one plan to another. In addition to enrollment date deadlines, there may also be restrictions based on region. Before enrollment can take place, Medicare Part A and Part B must cover you.
Medicare supplemental insurance plans are usually selected based on the type of coverage you already have. With so many options available, it may seem very confusing. Talk with a Medicare representative. They will help you understand the types of issues you should take into consideration before making your selection.