Medicare Supplement Plans is a good choice as health insurance for senior citizens. Growing old is hard and fighting with numerous complexities in your body is even harder; finding a good insurance scheme to cover your all kinds of medical costs shouldn’t be hard. Normal health insurance, i.e. Original Medicare does not cover a few medical costs like costs of your medical expenses when you are abroad. This is when Medigap policies come to fill in the gaps of your insurance policy.
These kinds of policies are offered by numerous private insurance companies who abide by the federal and state laws for the safety of the customer. Medigap policies cover your copayments, coinsurances and deductibles which Medicare Advantage Health Plans do not cover. The Medigap policies act as your supplement health insurance and are proven to be very effective.
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Few important things about Medicare supplement plans:
- Although you might want to enrol with Medigap policies, you might still be unclear about their enrolment process and the timings of enrolments. Most of the offers by various private insurance companies on Medicare supplement plans last for six months before the enrolment process starts. In this period the interested person is allowed to register, but it won’t be effective until the effective date of Part B plan.
- There are many schemes of the same Medigap policy, choose your own schemes according to your own convenience.
- Make sure you are a part of the schemes Part A and Part B; otherwise you are not eligible to enrol.
- You cannot be a part of Medicare Supplement Plans, and Medicare Advantage Health Plans at the same time.
- You are not qualified to enrol at Medigap policies if you are younger than 65 years old, no matter how serious your health problem is. Although, there are few rare cases of an exception being made in this case.
What are the different types of plans of Medigap policies?
At present, there are 12 Medicare Supplement Plans starting from Plan A to Plan L. Two new plans, named Plan M and Plan N have been introduced, effective from July 2010. There are few plans which were eliminated as well viz. The plan I, Plan H, Plan E and Plan J. Any person interested to enrol, compares these plans and chooses the one convenient to their lifestyle. All these plans are standardized, by the federal government, effective since 1992.