What is the Medicare Supplemental Plan?
Through this Medicare supplemental plan, customers can have coverage for different health care costs like copays, deductible costs, coinsurance, and extended hospital cots if needed. Medicare parts A and B do not cover these costs. So guys, if you think you need coverage for these costs, you can buy a Medicare Supplemental Plan. But, we would like to say a few words. AARP endorses the “AARP Medicare Supplement insurance plan” which is insured by United HealthCare Insurance Company. AARP is being paid (royalty fees) by the United HealthCare Insurance Company for the use of AARP’s intellectual property. So, it is clear that the “Medicare Supplemental” plan is sold by private insurance companies. But, Government has supervised and standardized this “Medicare Supplemental” into 10 choices which are known as Plan-A to Plan-N.
All the plans are quite the same and offer almost the same benefits. The customer needs to choose the plan that he/she think will cover all out-of-pocket costs. Now, we must say that the value of the premium varies depending upon the company, location, the chosen plan and the time of the enrollment.
Another important information what we would like to share with you that if you buy “Guaranteed issues rights”, the insurance company cannot charge you extra.
Customers must buy Medicare Plan as soon as they enrol in Medicare Part –B, a piece of important advice on behalf of us. We are explaining why it is so important. If the customer buys or changes plans with preexisting conditions at any other time (after the enrollment), the value of the premier will be higher or it may happen that customers will not get coverage at all.
List of Best Medicare Supplemental Plans:
So, guys lets discuss the three best plans of Medicare Supplemental Plans. According to us, the three best plans are Plan N, G, and F, compared to other plans of this category due to flexibility, moderately low premium and a few other reasons.
Top 3 Medicare Supplemental Plan:
We vote Plan-N as the top-ranked plan for its numerous benefits. It has a moderately low monthly rate. The other benefits are payment of the 20% Medicare Part B coinsurance, a year’s worth of hospitalization coverage even after the plan expires and the first three pints of blood needed for a medical procedure and many more.
Plan G seems to be a great option for the customers as it supports more coverage than Plan –N.
Plan – G includes no requirement of a copay for the doctor and pays Medicare Part – B excess charges. But, Plan – G claims higher premium than Plan –N.
But, we can say Plan – G is best for those who want to avoid copays and have frequent healthcare provider visits. It is the best plan for those who are concerned about excess charges.
Alternative Medicare Supplemental Plans: High Deductible plans: Plan-F and Plan – K
We think Plan-F is the most wide-ranging coverage plan (Medical Supplemental Plan) that every customer can find the most considerable plan for all situations. But, the premier is a bit higher than the Plan-N and Plan-G, containing all the benefits of Plan-G & Plan – N with Medicare Part –B deductible which is $183 per year (The premier value may increase right now). Moreover, Plan –F has the pre-requisite that one can find a deductible of $2300 before expecting any Medicare plan pay. Plan-F is considered to be a first-dollar coverage plan minus the deductibles, it may be gone by 2020.
If the customer would like to bare the higher share of his/her expenses, then definitely Plan-K is the best choice. This plan says that customer has to pay 50% of copays, deductible, coinsurance under Part-A & B and excess charges. The main disadvantage of this plan is that it lacks several carriers.
So, guys, these are the top three Medicare Supplemental Plans that we think may be quite useful for you. So, choose carefully considering all the facts and find the best solutions for you.