Medicare Supplement Insurance
Medicare is now providing prescription drug coverage as a part of the medicare benefits. Because of this, there is no longer any prescription drug coverage available as a part of the medicare supplement insurance known as Medigap plans H, I, and J which was sold after January 1, 2006. The options which replace these plans vary. You can keep your Medigap policy without any changes, but you will pay higher premiums than those who opt to use the Medicare prescription drug plan. You can enroll in the new Medicare prescription plan and also keep your Medigap plan without the drug coverage. The premiums will be adjusted accordingly. Or as your third option you could have enrolled in a Medicare prescription drug plan by May 15, 2006 and buy a different Medigap policy without prescription coverage. You could have bought a Medigap plan A, B, C, F, K, or L which was sold by the company you had. After your Medicare prescription plan starts you have to apply for a new Medigap policy within 63 days after your Medicare coverage begins. These plans were all to be taken care of before May 15, 2006 in order to get the coverage you wanted. When changing companies, the company has the right to investigate your medical background and can deny your application if they feel like it.
Medicare is a federal health insurance for people 65 and older in the United States. It is also for some people under 65 who have disabilities. Medicare will cover some of your medical bills but not all of them. Medicare supplemental insurance will take care of the rest of the medical bills that Medicare doesn’t pay. If you have other health coverage you may not need the Medicare supplemental insurance. You may have health insurance through an employer or former employer, or you may belong to a Medicare Advantage plan, Medicaid, or the Qualified Medicare Beneficiary (QMB) Program that pays your Medicare premiums and other out of pocket expenses.
Medicare Supplemental Insurance helps you by taking care of the any out of pocket expenses such as co-payments, deductibles, and coinsurance. Medigap policies only pay for the claims that the Medicare insurance deems necessary. Some other supplement companies may offer better options and pay claims that the Medigap does not pay. It would be a good idea to investigate and compare the options to decide the best one suited for you. The rising costs of medications, doctors visits, and hospitalization has driven many people to using more natural supplements to prevent health problems so they may not need the health community as often. There are many natural supplements which can help keep us healthy and are much cheaper and safer to use than prescription medications. Of course the supplements will not take the place of the prescription medications but they may keep us from needing as many.
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