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It is rightly said, health is wealth and in order to ensure that you look after your health appropriately, you need to invest in a Medicare plan. The original Medicare plan offers multiple health benefits to you. It will pay for your health care services as well as medication. Most individuals are covered under the original health care plan. However, it is important for you to note that it does not pay for everything.
What is a Medicare supplement plan?
You might be covered under the Medicare plan but it will not pay for all the costs incurred by you. The solution for the same is a Medicare supplement plan which is also known as Medigap. This plan is a supplement plan which covers the gap between the cost of medical services and the original healthcare plan. It will help you pay hospital bills and medication costs which are not covered under the original plan. The plan will help you pay for the out of pocket expenses which will are not included in the original plan. It will fill majority gaps in the original coverage you might have.
How does the plan work?
Before you purchase a plan, it is important to understand how it works. The supplement plan is offered by private insurance companies and they act as a supplement to the original plan. In order to be eligible for the supplement plan, you need to be enrolled in the original plan. The supplement plan does not provide stand alone benefits. You need to choose the plan based on the state you reside in. In case you are under the age of 65, you might not be able to get the supplement plan. Your application might also be rejected if you have a disability or an end stage renal disease. You only need this plan if you are above 65 years of age. You can check with the insurance department of your state to find out if you are eligible for the supplement plan if you are under 65.
You need to keep in mind that the plan will not include the prescription coverage which means if you want the cost of medication to be covered, you will be required to enroll in a Medicare Prescription Drug Plan. That is a different plan which specifically meets the needs of medication. This plan can only help you cover the costs that are present in the original Medicare Advantage plan. For those who have both the plans, the original Medicare will pay first and the Supplement plan will pay for the gap. It helps you cover the out of pocket costs and you can ensure that get quality medication and treatment at an affordable rate.
What is not covered in the Medicare Supplement plans?
You might be enrolled in a different program or coverage, hence, when you sign up for the original Medicare, you will be required to fill up a form which is known as Initial Enrollment Questionnaire and here you will have to provide details about the other types of insurance you might have. You need to provide complete details of the coverage you have since this information will be sued to decide who will pay first when you require services related to healthcare. Medicare supplement plans in Texas are offered to individuals above the age of 65. You might have different stand alone plans that fit your needs. However, a supplement plan is an ideal choice if you are wondering which plan to choose. You do not need to bear the out of pocket expense and any gap will be covered by this plan.
Every state has a different plan and they offer different coverages at varying premiums. You need to choose a plan that is available in your State and that fits your needs. Most plans cover Medicare Part A coinsurance as well as hospital costs, blood and part A copayment.