If you have original medicare but still feel as if you are overpaying for your medical care, you should look into getting a medicare supplement plan. Medicare supplemental plans work with original Medicare to pay for all of your medical bills with one flat payment. Instead of paying 20% of every bill you get, you will pay a monthly premium and, depending on what plan you choose, the rest of your bills may be covered. This sounds quite simple, but there are actually many different aspects of medicare supplemental plans. Here are a few things you should know when looking into getting one.
As with all medicare advantage plans, one size does not fit all. Everyone has their own needs and preferences, hence there are many different Medicare supplemental plans to choose from. Charts like this can help you to see the different options. As you can see, there are several plans that are similar, though they each have different charges that are or are not covered. For example, when you compare plans F and G, you can see that the only difference is that Plan F covers the part B deductible, where plan G does not. However, the part B deductible is only $197 in the year 2020. If you will save more than that by choosing a plan G instead of an F, it will be worth it.
As mentioned in the last paragraph, the price for each plan varies. Plans that cover the bare minimum are likely to be much cheaper than the more extensive plans. In addition to comparing the prices for specific plans, you should also think about different insurance providers. For example, supplemental plan F could cost more or less based on which insurance provider you plan to go with. This is due to the fact that some providers are easier to deal with and some offer perks. It is wise to shop around when choosing a supplemental plan.
Certain Plans Are Offered
It is also important to keep in mind that not all insurance providers offer every plan. So, before you decide on a plan, talk to your insurance company about what plans they offer, and the monthly premium they charge. Some insurance companies offer certain plans for some years, and others on off years. Ask questions to ascertain what plans could become available to you in the future.
In conclusion, while there is a lot to know about supplemental plans, they are usually worth looking into. Contact a company that provides Medicare supplement plan advice to learn more.