Medical insurance for senior citizens offer a paradoxical situation. With old age, on one hand the need for medical coverage increases and on the other hand insurance companies are reluctant to provide complete coverage to senior individuals because the chances of falling ill are more. Medicare Supplement plans are very useful at this stage and if you can choose the best Medicare supplement plans, you can easily obtain a substantial amount of medical coverage.
It is found that the existing Medicare policies at their best cover 80% of medical expenses. The residual 20% becomes a huge burden, especially for financially strained individuals. In this instance, it is best to go for a supplemental Medicare policy fitting your needs.
General Medicare Supplement plans
Have a glance at the brief explanation of the Medicare Supplement plans in the offing before you choose the best plans for medicare supplemental insurance.
- Plan A: covers only the basic benefits as available in Medicare Supplement Insurance Plans.
- Plan B: covers basic benefits as well as skilled nursing co-insurance
- Plan C: covers basic benefits, skilled nursing co-insurance, Part A deductible, Part B deductible, Foreign Travel
- Plan D: covers basic benefits, skilled nursing co-insurance, Part A deductible, Foreign Travel, At home recovery
- Plan F: covers basic benefits, skilled nursing co-insurance, Part A deductible, Part B deductible, Part B excess, Foreign Travel
- Plan G: covers basic benefits, skilled nursing co-insurance, Part A deductible, Part B excess, Foreign Travel, At Home Recovery
- Plan K: covers basic benefits, skilled nursing co-insurance, Part A deductible, Out of pocket limit of $4620 (100% paid beyond limit)
- Plan L: covers basic benefits, skilled nursing co-insurance, Part A deductible, Out of pocket limit of $2310 (100% paid beyond limit)
- Plan M: covers basic benefits, skilled nursing co-insurance, Part A deductible, Foreign Travel Emergency
- Plan N: covers basic benefits, skilled nursing co-insurance, Part A deductible, Foreign Travel Emergency
Opting for the Best Medicare Supplement Plans
The type of supplement plan you opt for along with a normal Medicare policy will decide the amount of extra premium you are required to pay. So, it is very important to look before you leap and go for the best medicare supplement insurance.
Medicare supplement plans provide for basic health needs like in-patient care, prescription costs, nursing and doctor visits in a much better manner than general Medicare. The wide variety of plans aims to cater to the diverse needs of individuals as per the age, lifestyle, financial condition and other deciding factors. Plan F has found the greatest popularity among people looking for supplemental medicare as it the most comprehensive among all plans.
Specifically speaking, the medicare supplement plan you choose should cover your health expenses to the maximum possible extent. For example, a number of people might require intensive care while others might require domiciliary hospitalization, whereas still others might need to cover blood donation expenses.
In short, you should take care that you get what you need to maximize the benefits from the supplemental coverages. So it is very important to gather information about the coverage offered under each supplemental plan.
dg-573-73-9/28/2012
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