Across the country, more than 48 million Americans rely on Medicare for their health care coverage. However many people have found that while Medicare can help with some of the rising costs of healthcare, there are many services that Medicare will not cover.
Medicare Supplemental Insurance is available as a senior healthcare option, and it's important for people to review their coverage and evaluate their needs as they make this important decision. There are many factors to consider when deciding on senior health plans.
Am I Eligible for Medicare Supplemental Insurance?
Not everyone who is on Medicare is eligible for supplemental insurance. The only people who are eligible for this type of medical coverage are seniors who are at least 65 years of age, and are already enrolled in Medicare part A or Medicare part B. Anyone who is enrolled in another type of Medicare plan is not considered eligible for Medicare Supplemental Insurance.
How Does Medicare Supplemental Insurance Work and What Types of Senior Health Plans are Available?
Essentially, Medicare Supplemental Insurance will fill in the gaps in the Medicare part A or Medicare part B plans. There are certain things that are not covered under these plans, such as deductibles and copayments, dental care, cosmetic surgery, emergency health care outside of the United States, hearing aids, routine eye care or amounts that are charged by physicians in excess of set Medicare fees.
Medicare Supplemental Insurance will either cover these costs or help offset the costs for people in these situations. It is important to note that there are 10 different senior health plans available for Medicare Supplemental Insurance. Each plan offers different costs and benefits for the people enrolled in the plan. There are high-deductible plans available, as well as other types of senior health plans.
What are the Benefits of Medicare Supplemental Insurance?
There are several main benefits to investing in this type of supplemental insurance plan. Hospitalization costs will be covered if a patient has to stay for an extended period of time. Portions of the co-insurance may be covered, depending on the supplemental plan that is selected.
Hospice coinsurance, including inpatient care and outpatient drugs, is covered. Finally, the plans will provide coverage for the first three pints of blood that the patient requires each year. Specifics of each plan will vary, and residents of certain states may receive different coverage as well.