Medicare Supplement Plans 2018

Text-only Preview

Medicare Supplement Plans 2018
Medicare Supplement Plans 2018
In 2018, you will need to be covered for your medical expenses. Have you decided
what kind of insurance plan will cover you? The Medicare Supplement plans for
2018 might be the right choice for you. We are going to look at those a bit here so
that you can make an informed decision for yourself.
How Medicare Supplement Plans Work
Best Medicare Supplement Plans 2018
Medicare supplemental coverage is not like your typical Medicare coverage. It
requires that you have the base plan in order to sign up for it. Once you have the
basic medical plan, then you can go to a private insurance company (and not
Medicare) to get the supplement plan of your choice. You can sign up for only one
at a time, and you can choose from 10 different plans.
There are some similarities between the various supplement plans, which we will
get into in a moment, and those similarities mean that their coverage would
overlap if you were to sign up for more than one of them. So, just pick the one
supplement plan you want to use to fill in the gaps left behind by Medicare’s basic
plan. That basic plan offers coverage for only 80% of Medicare parts A and B, and
that can mean that there is a lot left for you to pay on your own. Thankfully, the
supplemental coverage can take care of many of the remaining expenses for you.
Once you sign up for a supplemental plan, you are usually supposed to keep
paying on it for a full year. Once that term expires, then you are free to change it
out for another plan. Trying to change during the term can create some problems
for you, so it’s best to take your time and choose the most appropriate plan for
your situation.
How Much Coverage You Will Receive
You get to decide how many medical expenses you want to be covered for and
how much coverage you want to pay for. As you look through the different plans,
you need to choose the one that fits your individual needs best. Don’t try to go
for whichever plan is the flavor the week, as what is most popular may not be a
good fit for you.
Most people are going to go for the high coverage plans- the ones that cover the
most medical expenses but that may not be a good choice for you. Before we get
into specific plans, let’s look at what the plans can cover for you. Keep in mind
that most supplement plans will only cover parts of these medical expenses and
you will have to pay the rest on your own.
In 2018, Medicare will still be offering the same coverage for medical expenses
that it is now. Let’s look at what those coverage items are.
Your copayments or coinsurance for Medicare parts A and B will likely be some of
your biggest medical expenses not covered by Medicare’s basic plan. These are
considered two separate expenses, but most Medicare Supplement plans for
2018 will cover them both.
The nursing care coinsurance is also covered by most supplement plans, though
some of them will only cover you for part of this expense.
Deductibles for Medicare Part A and Part B may be covered by your supplement
plan as well. More of them will cover Part A, and only Plan F covers you for Part
B’s deductible. This is an expense that needs to be paid before you can receive
any coverage relating to that part of Medicare, so you will want to make sure that
you can afford that upfront payment. For Part B, the cost of the deductible is
$183.
Further coverage is provided by most supplemental plans for pints of blood you
may need. You get three pints of blood each year with most supplemental plans.
You can also be covered for Medicare Part A hospital expenses. This will cover you
for 365 days of hospital care, and that goes above and beyond what you would be
covered for under your basic Medicare plan.
Medicare Part B excess charges may be covered by your Medicare supplement
plan as well. This is something you probably won’t need to pay very often, so you
may not need to have it covered. Only a couple plans will provide coverage for
this uncommon expense.
Finally, coverage is also provided for foreign travel exchange. That relates to the
cost of transport to emergency medical facilities that are outside the United
States. Most of the supplemental plans will provide at least some coverage for
this item.
Making the Right Choice
You have one full overage plan from the available 10, and that’s Plan F. This plan
will cover you for everything we have mentioned already. Other plans can come
close- Plan G and Plan N are popular choices that cover nearly as much as Plan F.
They are all fairly common plans, and you should find most of them at your local
insurance company.
Choosing the right plan for your situation is not an easy task, by any means. You
have to look at what the plans specifically cover for you and then match that up
to what you need from a plan.
If you go with Plan G, you get covered for everything we have talked about except
the Medicare Part B deductible. If you opt for Plan N instead, you can enjoy
coverage for all those supplemental expenses except for Medicare Part B excess
charges, some copayments and the Part B deductible.
We urge you to plan and make sure you know what Medicare supplement plans
for 2018 would be good choices for you. It’s a good idea to have a few picked out
and then to compare their prices to see which one offers you the best value. If
you already have plan, then make sure you check up on them next year and
examine your coverage to ensure you are still being covered as economically as
possible.