Traditional Medicare is a tremendous help to seniors across the country, as it covers a number of crucial healthcare services and treatments. However, although it covers a significant portion of your healthcare needs, it doesn’t cover everything. In most cases, Medicare beneficiaries want or need additional coverage to protect themselves against pesky out-of-pocket costs. There are a number of extra expenses you should be aware of, so we’ve put together this handy primer to help identify these costs and let you know if it’s covered by a Medigap plan. So, what does Medicare Supplement Insurance cover?
Both parts of traditional Medicare (Parts A and B) have a deductible. A deductible is an amount that you are required to pay before your insurance covers your medical services. For 2019, the Medicare Part A deductible is $1,364 for each benefit period and the Part B deductible is $135.50 or higher.
- Medicare Supplement Plans that cover your Part A deductible: Plan B, Plan C, Plan D, Plan F, Plan G, Plan K (50% coverage), Plan L (75%), and Plan M (50%), Plan N
- Plans that cover your Part B deductible: Plan C, Plan F
(Click here to learn more about Medigap coverage differences.)
Coinsurance and Copayments
In some cases, you will be responsible for a share of the healthcare service you receive. Your portion of the expenses is known either as a copayment or coinsurance. Both parts of traditional Medicare have this cost-sharing built into the coverage.
Under Medicare Part A, you may be responsible for coinsurance payments when you receive extended hospital or hospice care. You may also have to pay coinsurance towards skilled nursing facility care.
- Plans that cover your Part A coinsurance: All plans
- Medigap Plans that cover your Part A hospice care coinsurance or copayment: All Plans (Plan K covers 50% and Plan L covers 75%)
- Plans that cover your Part B coinsurance and copayments: All Plans (Plan K covers 50%, Plan L covers 75%, and Plan N has some exceptions)
- Medigap Plans that cover your skilled nursing care facility coinsurance: Plan C, Plan D, Plan F, Plan G, Plan K (50%), Plan L (75%), Plan M, Plan N
In some cases, your doctor may charge more than what Medicare is willing to pay for a certain service. If your doctor accepts “assignment,” then he or she will consider what Medicare pays as full payment for the service they provide. If your doctor doesn’t accept assignment, then he or she is able to charge up to 15% more for the service. This is the excess fee you would be responsible for if you didn’t have a Medicare Supplement Insurance policy that covers the charge.
- Plans that cover your Part B excess fees: Plan F, Plan G
Other Expenses and Services Covered by Medicare Supplement Insurance
Supplement Insurance can also help pay your share of the expenses for the first three pints of blood you receive if you ever need a blood transfusion. Additionally, Medigap plans can also help cover your healthcare expenses if you need to receive care outside of the country.
- Plans that cover blood transfusion expenses: All Plans (Plan K covers 50% and Plan L covers 75%)
- Plans that cover foreign travel healthcare expenses (coverage capped at 80%): Plan C, Plan D, Plan F, Plan G, Plan M, Plan N
Have Questions? Call DirectMedSup
You may still have questions about what’s covered by Medicare Supplement Insurance. That’s fine, because the agents at DirectMedSup can help answer these questions and more. When you call DirectMedSup at 855-593-0069, we’ll connect you with an experienced agent who can walk you through each plan to help determine what coverage you actually need. After that, they’ll help you compare rates to make sure you get a fair deal on your coverage. Call us now to start your Medicare Supplement Insurance application.