Different Types of Medicare Supplement Plans
Medicare Supplement Plans is a common topic in any conversation about Medicare. They are confusing and often misunderstood. The purpose of Medicare Supplement Plans is to fill in the gaps left behind by Medicare when you are not receiving coverage through Medicare. Most Medicare Supplement Plans will cover at least some of your deductibles and most have some prescription coverage.
Medicare Plan G is a specialized, supplementary medical health insurance for people who are over the age of 65 or disabled and currently eligible for Medicare. Plan G is also one of the more comprehensive Medicare supplement plans available to purchase without a Medicare Part D policy. For people nearing the end of their initial Medicare coverage term, plan g may be the best choice because of the additional benefits it provides. The addition of an annual income protection option can mean significant savings when coupled with Medicare supplement plans such as Medicare Part A and B.
The basic outline of the plan g would be to pay a flat monthly fee for a premium that covers the Medicare benefits you would need. Then you would choose from several different options that cover various parts of your Medicare coverage. Your Medicare choices would include: Part A, Part B, both of these would cover your routine doctor visits, hospital bills, medicines, and emergency room visits. There are options in both plans for coverage of fertility or travel expenses if you would need these benefits. The last option, the Medicare supplement policy, would cover expenses that are not addressed by Medicare Parts A and B.
Medicare Supplement Plan F is similar to the Part D plan. It also includes an income protection option in addition to regular Medicare coverage. Medicare Supplement Plan F does not cover the deductibles for Medigap policies and is considering a high deductible plan. This plan would only cover expenses that are not addressed by Medicare Parts A and B.
Medicare Supplement Plan J is similar to the original Medicare part b deductible
plan. Medicare Supplement Plan J could provide coverage for premiums for coinsurance and other out-of-pocket costs. It could also provide coverage for hospital stays that exceed the original Medicare part b deductible amount. There are specific limits on the types of medical services that Medicare Supplement Plan J could cover.
Medicare Supplement Plans F and J are the least expensive option for Medicare supplement plans. They offer broad coverage and low premiums. Medicare Supplement Plan J is the most expensive option. While it offers broad coverage, the costs of the premium and the Medicare Part B deductible are higher than the plans that fall between the Original Medicare Parts A and B.