If you are covered under Medicare, you will see that it doesn’t entirely cover all the expenses that you may incur during hospitalization or medical treatment. Because of this, you may want to purchase one of the Medigap plans that AARP has to offer.
Basically, Medigap is also known as Medicare Supplement Insurance. What this kind of insurance does is that it will be able to fill in the gaps that Medicare has. It will be able to cover the expenses you incur during medical treatment that Medicare does not cover. With it, you can be sure that you will be able to save a lot of money.
However, you need to remember that there are quite a lot of plans that AARP offers in their Medigap health insurance program. You need to know what kind of health insurance plan is right for you in order for you to save money and get the most out of your health insurance plan in case you need it.
There are basically 12 plans that AARP Medigap offers.
If you need basic benefits more than the extra benefits, you may want to get plans A to J. Here, you will benefit from Medicare Part A coinsurance plus 365 additional days after Medicare benefits.
For people who needs preventive health services, plans K to L is for you. Here, you will be able to benefit from Medicare Part A coinsurance and it will be able to cover 50 to 75 percent of hospice cost sharing, three pints of blood every year and it will also be able to cover 50 to 75 percent of Medicare Part B coinsurance.
These are the things that you have to know about AARP Medigap Plans. By choosing the right plan, you will be able to make use of the benefit and also save money on premiums.
Right now we are in the middle of open enrollment for Medicare. Open Enrollment will last until December 31, 2008, and it is important that you know as much as possible about Medicare coverage so that you can make good choices for the next year.
Medicare and Medicare Supplements, also called Medigap, have a number of parts and they are not always easy to figure out. In fact, determining how all these parts fit together and what you need for your situation can be totally confusing. This brief overview will give you information on the basic parts of Medicare and what is covered by them.
Medicare Part A and B make up the original Medicare. Part A basically covers in-patient services including inpatient rehabilitation and inpatient psychiatric care. Many services are covered completely, but you will have to pay a co-payment for some of the others.
Part B covers your doctor visits and other outpatient services determined to be “medically necessary” for you. It also covers certain tests to determine if you have an illness. There is a deductible, which is $135 for the year 2008, and there are also some copayments with it.
Medicare Part C is also called Medicare Advantage. The Medicare Advantage Plans are not part of the actual Medicare system, but they work with it. Medicare Advantage is an alternative to Medicare and the plans are run by private companies. There are a variety of plans that all work differently. Some plans work as HMO’s others charge a Fee for Service allowing you to go to any doctor as long as the doctor will accept payment from Medicare as payment in full. It is very important to research and find out whether the Medicare Advantage Plan you are choosing will actually work with your medical needs.
Part D covers Prescriptions. These are covered by private insurance companies approved by Medicare. This coverage is important, and you must determine what type Part D coverage you need. You should figure out what you need in advance so that you can enroll immediately when you are eligible. If not, you will be charged a substantial late fee. If you enroll in a certain Part D plan and feel it isn’t right for you, every year you will have an opportunity to change between November 15th and December 31st which is where we are right now. If you need to change plans, now is the time to do it.
That was the easy part. Now for the Supplements – the Medigap policies. There are 12 policies that cover services that are not otherwise covered. Each supplement is different and covers different things. In addition, it is possible to purchase these supplements from private insurance companies, get them from you or your spouse’s employer or from various government programs.
All Medigap Policies are standardized and approved by Medicare. This means that for policies E on up the alphabet, each lettered plan offers the same coverage no matter what company you purchase it from. An insurance company can charge whatever they want to charge, so compare companies and rates carefully. That way you won’t buy from a company that charges much more as another company for the same coverage.
So, do your research and determine which Medicare Supplemental Insurance is the best for you and find the best price. If you need information, check the web at www.Medicare.gov.
