About a year ago, I could tell that there were some issues with our medical insurance. It seemed like whenever we went to the doctor, we were left wondering why the bill was so high, which really made me worry about the situation. I started focusing more carefully on what to do about the situation, and within a few short weeks, I was going through our policies to see where the problem was. I found out that my claims were being processed improperly, so working with my insurance company made things better. This blog is here to help anyone who has ever had to resolve medical insurance problems.
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Resolving Medical Insurance Problems
What Do The Letters Mean? The Alphabet Of Medicare Supplement Plans
Wendy Bryant
Are all Medicare supplement plans the same? A supplement (also known as Medigap) plan covers out-of-pocket costs Original Medicare may leave behind. If you're not sure what options are available to you, take a look at what you need to know about the different Medigap policies.
Isn't Medigap Just Medigap?
Simply stated — no. A supplement policy is exactly what it sounds like. Medigap supplements Original Medicare. This means it pays for costs Parts A and B don't cover, such as coinsurance, copays, and possibly the deductible. Even though all Medigap types supplement Original Medicare, you have choices. There are several different supplement plans available, depending on where you live and what you want in an insurance policy.
What Are the Different Medigap Plans?
Like Original Medicare, Medigap plans are listed by part. These include letter designations. Original Medicare is available in parts A (hospital insurance), B (medical insurance), C (Medicare Advantage), and D (prescription drug coverage). Medigap plans include parts A through N. Each part covers different types of services or out-of-pocket expenses.
Do You Need Original Medicare for All Medigap Plans?
Yes, you will need parts A and B of Original Medicare to enroll in any Medigap plan — whether you choose part D, G, N, or another option. The requirement to enroll in Original Medicare may make you wonder why you would also need a Medigap plan. Even though you may already have hospital and doctor's office coverage (Medicare parts A and B), it's likely you will still have medical expenses.
Original Medicare does cover many of your potential medical expenses. But you may also need to pay coinsurance (a percentage of the cost of a Medicare-approved service) or a copay (a set payment for each medical visit/service). If you don't want to pay some or all of these costs, you also need Medigap.
Which Medigap Plan Is the Right Choice?
The answer to this question depends on several factors. These include where you live, the amount of coverage you already have, how much you're willing to pay out-of-pocket, what types of medical care you need, and your personal preferences. While all Medigap plans pay coinsurance costs for Part A hospital expenses after the Original Medicare benefits are used up, each supplement won't cover 100 percent of part B coinsurance or copays.
To learn more about what each Medicare supplement plan covers in your area, talk to a licensed insurance agent.
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