Medigap Plan C
2014 Medicare and Medigap Updates
Medigap Plan C
When one thinks of healthcare and its associated costs, it is normal to assume that Medicare, the national healthcare insurer, will cover all of the expenses. However, this is not true. Medicare only covers around 80% of medical bills. Many of the special cases such as extended skilled nursing care or hospice care are not wholly covered by Medicare. As such, this leaves gaps within the Medicare plans. Fortunately, there are a number of supplemental plans known as Medigap plans standardized by Medicare to cater to these gaps.
There are a number of Medigap plans and as would be expected all have different benefits associated with their varying premiums. Each of the plans is given a letter of the alphabet to act as its identifier. As such, when searching for an appropriate Medigap policy plan, it is only logical to search for the one which is the most comprehensive i.e. the one with the most benefits.
Medigap plan C and F are the most comprehensive plans available. In terms of benefits, Plan F offers more benefits covering both the hospital and medical insurance costs that Medicare does not cover. Medigap plan C differs from plan F in that it does not cover the excess charge that may result from medical insurance i.e. Medicare part B excess charges. However, it still greatly reduces any out of pocket expenses that may occur.
Excess charges are what result when a doctor charges more than the Medicare approved amount for their professional services. Although this doesn’t occur very often, there are some instances where it can happen. However, the excess charges are always limited to a certain percentage to prevent overcharging.
Before you choose any plan, you must understand what exactly the plan covers. In our case, Medigap plan C covers the exemptions of Parts A and B of the Medicare program. Medigap plan C covers the basic benefits which are excluded from the Medicare program. The 20% not catered for under the Medicare parts A and B are covered under this supplement plan. This percentage is more commonly referred to as coinsurance and is comprehensively handled by this plan. Moreover, both the Medicare deductibles are covered with Medigap plan C.
Medigap plan C is best for individuals who have pre-existing conditions which require ongoing treatment. Worth noting is that in some cases, you may have to be underwritten when applying for this and any other medigap plan. However, if you are turning 65, you are exempt from underwriting. Moreover, one of the benefits of choosing this supplement plan is the predictability of the medical expenses. This is rarely ever found in other medigap plans and helps one budget only for monthly premiums. The only exception to this is when you physician charges more than the Medicare approved amount