Medicare Supplement Insurance

Medicare supplement insurance is a private health insurance policy offered by the private insurance companies to the Medicare policy holders. This supplemental plan provides some of the health care expenses which are not or partly provided by the original Medicare policy. It is also known as Medigap as it helps to fill the gap between the expenses paid back by Medicare and the total amount charged.
ENROLLMENT

If a person is already a beneficiary of Medicare part A and B, then only he can enroll in a Medigap policy. He has to pay a Medigap part B premium on monthly basis with a premium to the insurance company. It is recommended to try to sign up within the first thirty days after getting Medicare as it will allow obtaining an improved coverage at a better rate.

MEDIGAP PLANS

There are 12 plans available in Medigap insurance policy. They are labeled A through L. Each of them provides a different set of repayment which helps to seal the different gaps of original Medicare supplement insurance. The plans vary in charge. All Medigap plans have some basic and some extra benefits as follows:

BASIC BENEFITS

Medicare Part A coverage:
It includes the $238/day coinsurances for hospital days 61-90 and $476/day for each day 91-150 and all expenses after hospital benefits have been used up.

Medicare Part B coverage:
Coinsurance and co payment charges are yearly deductible for this part.

Medigap Plan A
This plan only provides basic benefits with least expenses.

Medigap Plan B
This plan offers little more than plan A. It covers the basic benefits and the Medicare supplement insurance part A deductible. Maximum money for Medicare comes from the taxes given to the government. It covers the funds use for Medicare part A. Deductibles are paid by the patient. With the help of Medigap plan B the charge is paid for Medicare part A deductible.

Medigap Plan C
It includes the basic benefits, Medicare part A deductible and skilled nursing coinsurance with foreign travel emergency. It provides hospital and medical cost and blood as well.

Medigap Plan D
This plan provides all the facilities provided by plan C. Moreover, it includes at home recovery as an extra benefit. The recovery procedure at home is more or less as expensive as that at hospital as it includes health aids and nursing cost.

Medigap Plan E
This plan includes all the facilities provided by plan D. In addition, it also provides preventive care.

Medigap Plan F
Medigap plan F plan helps to release the pressure of health insurance related cost. Because this plan for those patients who consult with doctors who do not agree to Medicare project. It includes the blood related cost too.

Medigap Plan G
This is for those who want plan F facilities with at home recovery.

Medigap Plan H
This plan includes the prescribed drug coverage.

Medigap Plan I
This is a bit expensive than plan H as it covers excess doctor charge and at home recovery too.

Medigap Plan J
This is the most expensive plan among all those plans discussed above as it covers all the benefits offered by Medicare. This plan is only for those patients who can meet the expense of it.

Medigap Plan K & L
Both of them offer basic benefit and help to cover large amount but at a lower premium with a higher deductibles. These two plans have been newly launched and not yet widely obtainable.