Medicare Health Insurance Plans
2014 Medicare and Medigap Updates
Medicare health insurance plans are very important to anyone eligible for medicare and the medical benefits that go with it. With today's soaring hospital, doctor and drug cost it is imperative that those who can benefit from medicare medical coverage are familiar with all aspects of what it will and will not pay.
Since medicare does not cover all medical cost incurred during an illness or accident it is usually a wise decision to purchase additional supplemental insurance which is referred to as medigap. These plans are sold by private insurance companies to provide coverage when an individual's medicare coverage stops paying. It is call medigap because it fills the financial “gap” left by medicare.
Even though supplement medical insurance plans are sold by private companies, they are highly regulated by both state and federal government agencies. This is to insure the medicare recipient they are getting treated fairly by the insurance companies and are getting the exact coverage the plan they are purchasing calls for.
In order to purchase medigap insurance an individual must first enroll in medicare health insurance plans A and B. Plan A hospitalization is usually free but most are required to pay a monthly premium for plan B. This can be paid in a number of ways but it is usually just taken out of the monthly medicare benefits payment which an individual has qualified for.
It would be a good idea to research and completely understand the medicare coverage options and rules for joining or switching polices before purchasing a medigap supplement plan. This will aid you in having the coverage you need at the best price available. It will also stop you from purchasing more coverage than you actually require.
Although medicare health insurance plans will pay for expenses for which they were established to cover, they may require that other policies an individual has pays first before they take over. This could include things like worker's compensation, no fault insurance, liability insurance, black lung benefits and employer group insurance.
When you are in need of medical attention in is very important to let the medical facility know which types of insurance you have so they will know how to handle your billing. It is imperative they send the bills to the correct institutions for payment.
There is a 6 month dead line for enrolling in a medicare supplement plan. It must be done within 6 months from the time you reach medicare eligibility. You should be sure and check out your particular dead line date and not let it expire. It will make your rate higher when you join and probably cause you to have to take a physical examination.
If you have an interest in medicare health insurance plans or medicare supplement plans you may want to read a few more articles on our website. We have a vast amount of information that can keep the medicare recipient well informed. We are also constantly adding more information as it becomes available.