The Medicare Supplement Plans offered by some private companies is not as comprehensive as the ones supplied by the government. Some plans can even contain other supplementary benefits. For example, some of the supplement plans may offer coverage for vision care.
But this is not provided with the Medicare Supplement Plans. It is an extra service or benefit that can be purchased by the individual consumer. A few private companies also offer a service which is similar to that provided by Medicare Part D prescription drug plan: the Medicare Shared Savings Account (SSSA).
One of the most common claims made by consumers regarding their benefits from private Medicare Supplement Plans 2022 is that they do not receive any guarantee that they will receive specific benefits or that they will even be able to claim certain benefits from the Government if they need them.
Some of the supplemental benefits provided with these kinds of plans are:
- A guaranteed open enrolment option for all eligible seniors
- Up to 12 different guaranteed providers of Medicare Advantage Plans
- An annual physical exam
- A hearing test
- Visual bone scan
- Rigorous blood test and drug screening
- Reimbursement for services received
- Option to pay a portion of the Medicare Part-D rebate
- An annual preventive service including physical examination and test for high cholesterol level.
Most of the above mentioned benefits are normally guaranteed renewable within a certain period of time.
Hence, if you did not enrol in a Medicare supplement plan and choose to go for Medicare Parts A and B, you will automatically be enroled in the Medicare Supplement Plan F. If you then decide to switch to a different plan such as the Medicare Advantage plan, you can always request a switch after a grace period has been provided.
There is no grace period provided for the switching of the Medicare Supplement Plans. This means that once you have begun to receive the benefits from Medicare Parts A and B, you cannot change your mind about enroling in those plans again.
The most common Medicare Supplement Plans is the following: Medicare Advantage Plans (Plan F), Medicare Part A, Medicare Part B, Medicare Supplement A and Plan K. All of these plans provide similar benefits such as coverage for vision care, hospitalization, complementary care, emergency care, pharmacy, physician visits, prescribed drugs, durable medical equipment and hearing aids. There are also differences among the four plans.
Some of them provide a wider choice of hospitals, providers and coverages, etc. than the other three. For example, Medicare Part A only requires that you meet the age requirements. On the other hand, Medicare Part B requires you to pay deductibles for services provided and Medicare Supplement A requires you to pay 100% of the cost for certain prescriptions and coinsurance rates.
As a reminder, before you get started with these types of plans, you must first know all the Medicare supplement plans that are available to you. It is because the original Medicare program does not cover foreign travel.
So when considering getting the additional benefits from your foreign travel related policy, please consult your doctor to know what Medicare covers foreign travel. This article does not offer legal advice and is for general information only. Please seek the advice of a professional attorney in regards to your specific situation.
There are many advantages associated with Medicare supplement plans and many people find it more beneficial to choose such plans compared to the original Medicare. The first advantage is that you get continuous Medicare coverage. Another advantage is that you get a wider choice of physicians, hospitals, etc. These plans are typically cheaper than their original counterparts. Many people find they are able to save several hundred dollars per year by switching to this type of health insurance policies.
One important thing to keep in mind is that Medicare does not cover emergency care. So if you are traveling to another country and need urgent medical care, you may want to consider taking out a medical travel policy instead of opting for Medicare plans.
As you can see there are many differences between Medicare supplements and medicare plans and although many people feel it is better, they are merely opinions. It is recommended that you get all the facts before making your decision so that you know exactly what you are getting. I hope you find this information helpful.