You will be able to find supplemental Medicare insurance by going to various insurance companies in your area, visiting their websites or contacting them directly. They sell these Medicare approved plans which provide you with more coverage for your medical expenses. We want to take a moment and fill you in on what you should know about 2018 Medicare Supplement Plans.
Understanding Medicare Supplements
Before you can tell whether supplemental Medicare plans are right for you, you must first understand what these plans entail. They cover expenses that Medicare doesn’t, but you do need to have a basic Medicare plan in order to be eligible for a supplement plan. They are meant to be purchased in addition to the base plan.
There is no overlap in coverage between the two, and you can only have one supplement plan at once. That’s because all the supplement plans overlap in some way, covering a few of the same basic things.
If you sign up for one of the supplemental plans, you can expect to be covered for medical expenses such as nursing care coinsurance, foreign travel exchange, your deductibles, co-payments, excess charges from Medicare Part B and pints of blood. Not every plan is going to cover all of those. In fact, only one plan covers each and every one- Plan F. This is the most expensive plan, thanks to its extensive coverage, and because of how expensive it is, there are few people we could recommend it to. The little bit it covers that the next highest plan- Plan G- does not, is usually more easily paid for out of your own pocket.
Just because you would have to pay a medical expense on your own without a supplement plan, that doesn’t mean you need to sign up for a supplement plan that covers it for you. You should consider how many times per year you would have to pay for that expense, and if it would be cheaper to pay for it yourself than pay for a plan that covers it throughout the year.