What Are the Advantages of Medigap
A Medigap insurance plan is a supplemental policy for medical insurance. It is designed to cover certain costs that Medicare Part A and Part B don’t. There are ten Medigap plans currently available, which offer standardized benefits. They are named as Plan A, B, C, D, F, G, K, L, M, and N. Each of them varies in terms of the benefits and premium prices and all of them may not be available in your area.
Different Medigap plans offer different benefits. However, some of the benefits are common such as coinsurance on hospital costs that can be availed of up to a year after your Part A benefits for hospitalization have run out.
Additional coverage for Part A and Part B
The costs covered for Part A include coinsurance for hospitalization, Part A deductible, skilled nursing coinsurance, and copayment for hospice care.
The costs covered by Part B include coinsurance and copayment for about 50 to 100 percent of your Part B plan depending on the Medigap plan you choose. You will also enjoy cover for Part B deductible and excess charges. The latter applies to those cases where healthcare providers refuse to accept Medicare assignment.
Other benefits of Medigap policies
Apart from these advantages, Medigap plans offer a host of other benefits.
For those people who travel out of the country frequently, Medigap policies are very useful. They cover you for foreign travel emergencies under certain limits pertaining to the plan. Since Medicare plans don’t provide such coverage out of the country, Medigap policies are a great option for these cases.
Medigap supplement insurance is definitely a boon for enjoying additional medical coverage when you already have a Medicare policy. It is especially useful if your health requires you to visit the doctor frequently or if you have to travel abroad regularly. But it’s important to note that not all Medigap policies will cover all these advantages listed above. That’s why it is important to check all the policy offerings and compare them to ascertain what you need. Also, not all of them may be available in your state. So make sure you keep these things in mind while selecting your Medigap plan.
