Medicare only covers a portion of the costs of healthcare. Medicare, or Medicare Part A and Medicare Part B, cover about 80% of medical costs, but there are copays, deductibles, and coinsurance payments that the individual must pay out of pocket.
The Core Coverage
The most basic of the Medicare supplement plans is Plan A. This is not the same as Medicare Part A. Instead, it is a plan offered by a private insurance company. In the majority of states, private insurance companies offering Medicare supplemental insurance plans must include the core basics for that plan.
The core benefits of Medicare supplemental insurance plans include an additional 356 days of inpatient hospital care, the first three pints of blood required in procedures, Medicare Part B coinsurance or copayment requirements, and Part A hospice care coinsurance.
Features to Consider
The best Medicare supplement plan is not the same for everyone. Different features include covering health costs while traveling, the level of deductions, and the pricing of the different plans from providers.
In addition, other Medicare supplemental plans can also cover Part B excess medical charges as well as coinsurance required for skilled nursing facility care. These types of expenses can be significant, and these features can offset the slightly higher costs of supplemental insurance plans above the basics offered with Medicare supplemental Plan A coverage.
To find out more or to discuss your options in Medicare supplemental plans, call us at 623-777-3315.