Medicare is likely to be used to pay for your health care services; still it does not cover for everything. There are few coverages that does not come under this medicare such as con-insurance, co-payments, deductibles etc. In order to give coverage for these things medicare supplement plans are used. In short, it is used to pay that costs that does not come under Medicare plan. Medicine Supplement Plans are also known as Medigap.
How do Medicare Supplement Plans work?
Medicare supplement plans are considered to be an additional health care facility offered by the private insurance companies in order to cover gaps in Medicare plan. This Medigap policy is basically regulated by the Federal and State Laws for protecting you as the beneficiary. Such policies are required to be properly labelled as the ‘Medicare Supplement Insurance’. Moreover, each of these policies is standardized for every State.
There are various eligibility requirements that are to be fulfilled first in order for you to be eligible to get its facility and benefits. Medicare Supplement Plans generally work in conjunction with the original Medicare Plan. Hence, you are required to have the Medicare part A as well as part B to be properly eligible for the Medigap. If you are 65 years of or above, then your application will surely be accepted. Under some specific circumstances the pre-existing conditions may be waived if required.
Medigap Plans or Humana Medicare Advantage plans 2019
In many places, there are twelve different standardized policies (Medicare Supplement Plans A through L) to choose from. Each of these plans is there to offer a distinct set of basic and extra benefits. It is same with all the insurance companies. An insurance company is likely to decide which policy they wish to sell or set their price, and that is why you are really required to do your research carefully.
Medicare Supplement Plans never give coverage for the prescription drugs. You are never supposed to have both the medicare part D as well as Medigap drug coverage at a time. In
case, you have Medicare Prescription Drug plan as well as Medigap policy then you have to ask the Medigap insurance company to remove drug coverage from the policy.
Does Medigap really work with any advantage plan?
It does not. In case you get yourself enrolled in the Medicare Advantage Plan, then the Medicare coverage is not supposed to work at all. You are required to remove the Medigap policy if you select a plan other than original medicare plan.