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All people who are on Medicare need a Medigap supplemental health insurance plan to ensure that their health care is completely covered. This insurance pays all the your government health care insurance doesn't cover. The government has set standards on these policies, labeling them A through J, with A being the lowest cost and least amount of coverage. To choose the coverage that's right from you, you need to know what the options are.
Instructions
1. Know that Plan A provides only the most basic supplemental coverage needs. It covers the 20 percent copay for doctor bills and other expenses that Medicare expects the patient to pay for. It also covers big hospital bills. With Plan D, you get the Medicare Part A deductible paid for as well. With the rest of the policies, there's coverage for skilled nursing home care, medical expenses outside the country and prescription drugs in varying degrees.
2. Compare the policies by looking at how much money you will have to spend on your prescription drugs. This is a huge expense for some and not much of an expense for others. If your total drug expenses are under $3,000, for example, you would want Plan H or I, which both offer that amount of payment.
3. Know that Medicare covers only 80 percent of most of your medical tests and procedures. Medigap pays the remaining 20 percent. If you go past the insured limit for that test or procedure, you will be responsible for the remaining balance. Make sure that the coverage you choose provides the best coverage that you can afford.
4. Compare the policies by looking at their "outlines of coverage." You need to know if your premium costs will stay the same or if the insurers can raise them when they want to. Rising premium costs for the elderly usually are a bad idea since health costs generally go up with age.
5. Shop around. Don't be sold on the first thing you look at. Ask about coverage that can be offered at the professional or social organizations you are affiliated with. Many of these offer great coverage for better rates than private insurers do. Ask around, too. Find out if your friends have coverage that they're happy with as far as expense and coverage.
6. Don't let someone push you into signing before you've got all the facts. Salespeople can be brutally pushy. Tell them before you start that you will not make a decision today and you will not change your mind. Say that you have a list of providers to check out and that you will not sign until you've spoken to each one.
7. Sign up for Medigap coverage within 6 months of getting on Medicare Part B because that 6 months is a window of open enrollment when your health concerns will play no part in getting insurance. After that, your health may be considered.
8. Remember, though, that you can upgrade or downgrade your policy if you need to. None of these decisions are written in stone, so don't fret about them. Do your homework, get the advice of friends or one of your children and make a sound coverage decision. Go to the government's website for more detailed information about Medicare and Medigap insurance and coverage. The link is listed below.
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