Medicare Supplement Plans are appealing to many Medicare policyholders because they can make a drastic decrease in out-of-pocket costs. There are many different plans to choose from, ranging in costs covered and the amount paid in premiums.
What Medicare Part A costs are covered?
Medicare Part A coverage deals with the costs you incur from hospitalization or other inpatient treatment. The expenses build quickly, even when your insurance has covered most of the cost.
Here are the Part A expenses that could potentially be covered by a Medicare Supplement Plan:
- Deductible
- Coinsurance
- Copay
- Skilled Nursing Facility coinsurance
The supplemental coverage can also extend to 365 days after benefits relating to hospitalization are maximized.
What are the Medicare Part B costs covered?
Medicare Part B deals with costs in the outpatient setting.
Potential Part B costs covered by a Medicare Supplement Plan include:
- Deductible
- Coinsurance
- Copay
- Excess charges
This can save on the out-of-pocket costs spent on doctor appointments and the care received, such as x-rays and cancer screenings.
What are the other expenses covered?
Other expenses covered include the first three pints of blood and foreign travel emergency costs. Not all plans offer the same coverage. Medicare Supplement Plans K and L are unique in that they have an out-of-pocket limit instated in their plans ($5,880 for K; $2,940 for L).
What are the Medicare Supplement Plan options, and are there any differences in what they cover?
There are ten separate Medicare Supplement Plans. These plans are A, B, C, D, F, G, K, L, M, and N.
All of these cover Part A coinsurance, in part or in total. The same can be said for Part B coinsurance or copayment. With this, any Medicare Supplement Plan can be useful in cutting out-of-pocket costs for the expenses from hospital visits and doctor appointments.
The contrasts emerge when deductibles come into play. Part A deductibles are covered by all plans except Medicare Supplement Plan A. Plans C and F are the only Medicare Supplement Plans that take care of Part B deductibles. The rest do not have this provision.
Part B excess charge coverage is exclusive to Medicare Supplement Plans F and G. The rest do not offer assistance for this.
If you have any questions…
Midwest Medigap is here to help you find the right coverage for your specific budget and coverage needs. With us, you are getting assistance from trained professionals who are passionate about what they do. If you have any questions about Medicare Supplement coverage, contact us today by calling 800-805-6834.
