A non-government website

To speak to a Licensed Insurance Agent

(TTY 711)

Hours of Operation: 9am - 6pm EST

What Does a Medicare Supplement Policy Cover?

What Does a Medicare Supplement Policy Cover?

Whenever you purchase your Medicare plan, you hear about many different packages like Medigap, Medicaid, Medicare Advantage plans, etc. Initially, many people may ignore these fancy names and focus on getting the original Medicare. However, these fancy names may act as a Medicare supplement policy that can cover a range of items. Wondering “What Does a Medicare Supplement Policy Cover?” Let’s have a look at it.

Medicare supplement policies may fill the gaps between the original Medicare and help you cover the additional cost that Original Medicare doesn’t cover. You might say that isn’t the original plan? Well, it depends on your preferences. If you have to visit the doctor daily due to a terminal illness, a supplement policy might be vital for you.

Without any further ado, let’s see what a Medicare supplement policy is.

What Is a Medigap Policy?

A Medigap policy generally covers most of the cost that an original Medicare doesn’t cover. To get a Medigap policy, you must have Original Medicare Part A and B. Just like you pay a premium for a Medicare Part B plan; you’ll also have to pay a monthly premium for a Medigap policy. Private insurance companies sell these policies, and they can impact your coverage options.

Once the original Medicare pays its share of the cost, a Medigap plan jumps in and helps you to cover your costs. Let’s see what a Medicare Supplement policy can help you cover.

What Does a Medicare Supplement Policy Covers?

As mentioned earlier, it’ll cover what an original Medicare doesn’t cover. For example, you have to incur some deductibles before starting to avail your original plan’s services. Similarly, you have to pay 20% of the cost of medical service, while Medicare covers the rest. All these minor costs come under the coverage of the Medicare supplement policy.

In part A plan, you’ll have to pay daily copayments if you are hospitalized for more than sixty days. Now, these costs can be pretty high, and when calamities arise, they can be challenging to cover. Therefore, a Medicare supplement coverage plan can help you overcome these costs. In a general form, the following are the costs that a Medigap or a supplement policy covers:

  • Deductible payments for Part A and Part B
  • Copayments
  • Coinsurance
  • Skilled nursing facility costs after you run out of your Medicare-covered days

However, there can be some costs that you think that your supplement policy may cover, but it doesn’t. Let’s see what a supplement plan doesn’t cover.

What Does a Medicare Supplement Policy Doesn’t Cover?

Some of the costs that a supplement policy might not cover are as follows:

  • Long-term care
  • Vision or dental care
  • Hearing aids
  • Private duty nursing
  • Medicare Part D prescription drug plans

Most people are under the impression that Supplement coverage may help with the Part D prescription plans. However, it isn’t true. Before January 2006, some Medicare supplement providers were covering the Part D prescription costs. However, it isn’t the case anymore, and after January 2006, no provider covers the Medicare part D costs.

Also, only a single person can enroll for a supplement coverage plan. So, if you’re looking for a supplement plan for your spouse as well, you have to purchase two separate plans.

Final Comments!

A supplement coverage might seem like an extra payment burden, but it can work wonders for you. If you get a terrible terminal disease, a medical supplement plan might help you with the high cost. So, do you want to have peace of mind and avoid the high costs when the difficult time comes?

Go to NewMedicare and search for Medigap plans from various private companies. Keep in mind that the enrollment for Medigap is a one-time chance, so keep up with the timeline.

Related Posts

Call now to get a Free Quote