Concepts On Medicare Supplement Plans

Having an Original Medicare plan is not always the perfect option of getting all your medical bills cleared up

. In fact although the original Medicare plans help a lot to pay off your medical bills still the fact is that they always leaves some gap behind. Therefore to get the best advantage of the Medicare plans the best option one can get is to have Medicare supplement plans along with the original Medicare. These plans are actually supplementary insurance plans to the original Medicare which helps in bridging the gap between the original Medicare policy coverage and the actual medical bill payable. Besides that each and every Medicare supplement insurance plans do have their own set of benefits which often includes some extra benefits other than the original Medicare. In this respect it is worth mention that as these plans are only supplementary insurance plans to the original Medicare therefore these plans cannot be used with any other health care insurance instead of the original Medicare. However, if anyone already possesses these plans and switches over to any other plan other than the original Medicare he can no longer use their benefits unless he switches back to the original Medicare.

These Medicare supplement plans were originally standardized in 1992 by CMS and there on the Medigap policies are mostly under the administration of the private insurance companies the government has not much of hold on them. But the insurance companies are also allowed to sell only 12 standardized Medigap plans ranging from A through L. And according to the law, whatever company may sell the Medigap insurance the policies under the same letter cover should provide the same benefits. This means that if you buy Medigap insurance under plan C, the company you are purchasing it is bound to provide the same benefits and coverage as provided by the other companies. But the amount of policy premium may differ from company to company. Each policy under the different letter covers has a different set of benefits. As for example starting from 2006, the Medigap Plans H, I, J, cannot be sold with prescription-drug benefit, although people who already had those policies prior to the date can keep them.

Moreover, while making the choice of the Medicare supplement plans it is always advisable to go through the offer documents of all of these plans very carefully in order to make the proper choice of the Medicare supplement plans. To match the perfect needs that you have it is always a better choice to get the aid of some experienced insurance agent so that you can make the perfect choice of the Medicare supplement plans. Thus, the choice of the proper Medicare supplement plans becomes a very essential factor in order to get the best benefits out of your Medicare original plans.

In this context it is also worth mention that lately there had been some changes in the standard Medicare supplement plans and according to which four of the existing plans have been dropped, being replaced by two new plans M and N which are hoped to be providing better benefits to the Medicare beneficiaries.

by: William Richards

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