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2017 Medicare Supplemental Insurance Plans

Medicare supplemental insurance (also known as Medigap) is a health insurance tailored for seniors aged 65 years and above, and those who have paid and worked into the system. This insurance policy also does cover younger patients suffering from end-stage renal disease, lateral sclerosis, and major disabilities.  In the United States, seniors are automatically enrolled in Medicare insurance plan once they hit the age of 65.  Although this helps cater for about 40 – 80% of all hospitalization and medical bills, the patient still has to pay the remainder (mostly 20%) from his/her pocket to clear the bills.

Although a small fraction, this amount may be too much for a retired person. This is the reason insurance companies’ came up with Medicare supplemental insurance to help cover the difference. It would therefore be advisable for seniors to look for an affordable Medicare supplemental insurance plan to help increase the amount of health cover one has.   Most insurance companies offer a broad range of Medigap insurance plans that provide innovative benefits offering higher premiums and limited out-of-pocket costs. Some of the 2017 Medicare supplemental insurance plans are outlined below.

1.    2017 Medigap Plans A and B: These plans provide basic hospice care, medical expenses, and hospitalization coverage.  Insurance companies charge reasonable premiums and lower deductibles on the same.

2.    2017 Medigap Plan C:  Medigap plan C insurance plan offers a higher coverage than plans A and B. This covers all plans A and B coverage plus emergency care while abroad as well as skilled nursing care.   The beneficiary, however, has to pay higher premium rates to get the additional coverage.

3.    2017 Medigap Plans F and G:  Plans F and Goffers 100% cover for excess charges on Part B, skilled nursing care, and emergency care abroad. The main benefit of this cover is that you can choose a high-deductible option to lower premium rates.

4.    2017 Medigap Plans K, L, and N:  Some insurance companies may combine one or two of these plans, or offer each plan as a cover individually. Nonetheless, these plans provide a much higher coverage, which includes specialized hospital care, doctor’s services, skilled nursing care and all Part A deductibles. In addition to this, there is an out-of-pocket maximum from each plan as well.

These plans and coverage provided may differ from one state to the other. This is the reason why you should research on the same, or simply inquire with insurance providers for clarification on the same.   Standardized Medicare supplemental plans however may not provide cover for dental or vision care, hearing aids, prescription drugs or even long-term care.  Should you need these included in your cover, it would then be advisable to look out for insurance companies that provide the same. Alternatively, you can talk to the insurance producers or agents about it to see whether they can come up with a custom cover just for you.

Most seniors survive on their pension plans and any savings they had. With many of them vulnerable to various health conditions, it would be best for one to have enough health insurance plan covering most of the medical and hospitalization bills.  Although Medicare insurance may cover some of the medical bills, it would be much safer for one to buy an additional medical cover to supplement the same. The 2017 Medicare supplemental insurance, therefore, come in handy in such situations.

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