There are ten Medicare supplemental insurance plans that are available in almost all of the states. The policies are formulated in a little different way in Minnesota, Massachusetts, and Wisconsin. The names of the plans are after the alphabet like A, B, C, and so on. There are total ten plans and the first letters of the alphabet are used to represent them.
Medicare Part A: This part deals with hospital costs and the coinsurance. For the first sixty days of the hospital stay, all of the cost is paid by Medicare. It deducts $329/ day from the 61st day till the 90th day. The cost is fully paid from 90th day till 151st day, except for the deduction of $658 every day.
Medicare supplemental insurance plans A, B, C, D, F, G, K, L, M, and N pay for these set of costs.
Medicare Part B: This part deals with medically necessary doctors’ services. 80% of the costs of are paid for by Medicare. The remaining 20% is covered by optional supplemental insurance plans. Medicare Supplement Plan L pays for 75% of the costs of Medicare Part B while Plan K pays 50%. All of the other plans such as plan A, B, C, D, F, G, M, N pay 100% of the cost in Part B.
1st three pints of Blood: All Medicare Supplement plans pay the cost of the first three pints of blood extra blood is covered by Plan K at 50% of the cost whereas Plan L covers 75%. The rest of the supplemental plans cover 100% of the cost benefit.
Part A: Coinsurance of Hospice Care: All supplemental insurance plans pay some part or all of the cost involved with hospice care. With all remaining plans hospice charges are paid by Medicare. Plan K covers 50% and Plan L covers 75% of the costs. The rest of supplemental plans cover 100% of these cost provision.
Coinsurance of Nursing Facility: The nursing staff is directly related to the provision of the basic facilities and procedures to the patients including intravenous injections, intramuscular injections, and the physiotherapy. Medicare pays the cost of the skilled nursing facility for the first twenty days. From the 21st till 100th day, all the cost is provided except for $165 per day. The Medicare doesn’t pay beyond the 100th day of attainment of this facility. Plan A and Plan B do not provide the benefits of these services. The rest of the supplemental plans cover this aspect of nursing facilities to 100% as mentioned in the description.
Deductible (Medicare Part A): There is a deductible from the hospital stay. The amount as per the 2017 criteria is $1,316 dollars per stay. This is covered at 50% with Plan K and Plan M and 75% with Plan L. All other supplemental insurance plans are fully contributing their part in this aspect.
Deductible (Medicare Part B): This is the yearly amount that must be paid before any benefits of Part B such as doctor visits, treatment facilities, and other outpatient services. For the year 2017, the deductible amount is $183. Plan C and Plan F pay for the cost of this deductible.
Excess Chargers in part B: The excess charges include that amount which a health care professional charges above the amount set by the Medicare are covered by Plans G and Plan F by providing coverage for those excess charges.
Emergency Foreign Travel: This isn’t covered by Medicare and participants need to enroll in one of the plans C, D, F, G, M and N which cover 100% of this benefit. A maximum sum of $50,000 dollars, 80% benefit is provided with a deductible of $250.
By comparing Medicare supplemental plans, the benefits they provide, and differences in each, you can purchase the plan that best suits your health care needs. Medicare supplemental plans can be bought from the private insurance companies. These companies can sell Medicare supplement insurance plans in almost all of the states and offer the exact same policy.
Learn more about Medicare Supplemental Insurance plans, rates and more at http://www.emedicare-supplemental-insurance.com. Medicare Supplemental Insurance brokers will help you compare Medicare Supplemental Insurance rates and plans. To talk to an expert in Medicare coverage toll free 888.404.5049 today!