Medicare Part A and Medicare Part B will pay a large portion of your medical expenses and materials, but it does not pay the entire amount you may have from your medical issue. Getting a Medicare supplement plan, also known as Medigap, will definitely help in this matter. Medicare supplement plans are procured from private insurance companies, similar to the insurance company you had before turning 65. These Medicare supplement plans will cover the 20% medical expenses that the original Medicare does not cover, which may include coinsurance, copayments and yearly deductibles.
One needs to have joined Medicare Part A and Medicare Part B, before one can consider getting a Medigap plan. Depending upon the area where one resides, you will not be able to have a Medicare supplement plan if you are under the age of 65. If you do have Medicare and because of a disability, such as end-stage renal sickness, amyotrophic lateral sclerosis, you will need to check with your state insurance offices to see if you are qualified for a Medicare supplement plan.
Some of the Medicare supplement plans will cover additional expenses that Original Medicare does not, such as foreign health care, if you are out of the country. Also, excess Part B extra charges. This will be determined by the plan which one chooses. Each plan will cover certain medical expenses, so one must look at and choose what will meet their health issues and their financial ability to pay the monthly premiums. What area in the United States where you live, will also have an effect on the cost of your premiums.
Medicare Supplement Plans 2018 do not cover prescriptions and Medicare Part D would be the plan to get to help cover your drug expenses. Medicare supplement plans also do not cover vision, dental, long term care or hearing aids. Those expenses will solely be your responsibility that you will need to take care of.
So when you have gotten your Medicare Part A and Medicare Part B and you find yourself with an illness, Original Medicare will pay the first 80%. You will be responsible for the remaining 20%, unless you have a Medicare supplement plan, which will pay the remaining 20% of your medical expenses. This is definitely a valid reason to acquire a Medicare supplement plan to ease the burdens of your medical expense not covered by Medicare Part A and Medicare Part B.