The Medigap Plans for 2018 provide insurance for the cost of healthcare. It can be incredibly expensive to receive the healthcare you need. Medicare may help you reduce those costs somewhat, but there is plenty that it isn’t covering.
Here we will look at a few of Medicare’s shortcomings in coverage and show you how you can get that missing coverage. It all starts with supplemental plans, which are insurance plans, designed by Medicare but sold by private insurance companies. These plans can only be purchased if you already have a Medicare basic plan. Those with Medicare advantage plans or Medicare Part D coverage may need to change up their current Medicare plan to accommodate these supplemental ones, as coverage can overlap in places.
There are a total of ten supplemental plans. Plan F has full coverage, meaning it covers all the items that Medicare labels as supplemental. Other plans form Medigap have less coverage, but some of them are very close to offering full coverage.
Since Plan F offers all the coverage possible, we will look at what it has in order to give you an idea of what kind of expenses these plans may be able to cover for you. So with Plan F you get coverage for another three pints of blood every year in addition to what Medicare basic provides for you. You also get more hospice care coverage in the form of Medicare Part A coinsurance.
Plan F provides you coverage for nursing care, most deductibles, all co-payments, excess charges from Medicare Part B and 80% of your emergency care in foreign countries (after a deductible has been paid).
Other Medigap plans for 2018 cover these items for you, but none of the remaining plans cover all of them like Plan F does. Take Plan G, for example. It covers everything just mentioned above save for a lone deductible. You get these minor differences in coverage between the plans, and there is enough variety that no matter how much or how little coverage you are seeking, you should be able to find it with these Medigap plans.
You definitely want to take it slow looking at the plans and picking out the right one. If you choose poorly, you can end up overpaying for your coverage or you may not have enough coverage to meet your financial needs. You want to strike the right balance with the plan you choose. It shouldn’t cover a lot more than you currently need coverage for, but it may provide a little extra. That allows you to be prepared for emergencies and other unexpected costs without having to pay a lot for them.
Once you find a plan that suits you well and gives you some spare coverage, you need to find that plan at the best price. Out of the available Medigap plans for 2018, you have to narrow down your pick to one plan. This isn’t a task you have to do alone though. If you are having trouble deciding which plan is a good fit for you, talk to an insurance agent about the suitability of the plans.