What To Do
When one joins Medicare Part A and Medicare Part B, there is a time concern to getting a Medicare supplement plan. The initial enrollment period is within 6 months of joining Medicare Part B. It is important to get a Medicare supplement plan during this time, because if you have any existing medical conditions, you will not be rejected from any plan. Beyond the 6 months, one may incur a much bigger increase in the cost of the premiums and may also be rejected from some plans because of your medical condition. This is why it is beneficial to get a Medicare supplement plan within the 6 month timetable.
There are Medicare supplement plans with various benefits to meet everyone’s medical needs. They are lettered from A-L and each has different benefits with some covering more and some less. The premiums will also be adjusted accordingly. All these plans from A-L are the same to be offered by individual insurance companies. States may have plans a little different, which one will need to check out where they reside.
Medicare supplement plans may have different costs between each plan and higher or lower deductibles. Looking carefully at each plan is essential to finding what will meet your medical needs and how much you are willing to pay for your monthly premiums.
What Is Important
Medicare pays 80% of your medical expenses and a Medicare supplement plan will cover the 20 % left. They may pay your deductible and the 20% left of your medical tests and lab fees that a doctor may request for your medical needs.
Medicare supplement Plan F has two options that is very popular because it offers the most benefits. One has lower deductibles and the other has higher deductibles. Look at these plans cautiously before deciding what plan you wish to go with. One must also know that prescriptions, vision, dental and nursing care are not covered in these plans.
An AARP Medicare Supplement may cost around $183 a month. If you wish more coverage, you will pay accordingly. Many of the benefits will change the cost of your premiums. Your age is also a consideration in the cost if you wait beyond the age of 65.
Before considering any insurance company for your Medicare supplement plan, you need to make sure that company is accredited in your state. It is wise to check out all the insurance providers to see what they will offer you.