The main question one must consider when thinking of a Medicare supplemental insurance plan is what are they and how much they will cost an individual. Currently, there is one insurance plan that supplements Medicare and is currently called the Medigap plan A. But there are 10 other plans available offered elsewhere.
The Medicare supplemental plans have all been designated a letter. Plan A is the important plan, but the other plans may cover medical expenses that are more important to a Medicare recipient.
These Medigap insurance plans are not available to persons who reside in the states of Wisconsin, Massachusetts and Minnesota where they carry similar insurance plans to the national plans available to people in other areas. When looking at these plans, one must realize these plans are all the same at each insurance company and not be told they are different in any way. All states are required to offer Medigap plan A, but not necessarily the other Medigap plans. Delaware, as well as, Vermont do not allow the other plans similar to the states previously listed above.
It is an important consideration to purchase a Medigap supplement plan within the six months one has acquired Medicare Part A and most importantly Medicare Part B. These Medigap supplement insurance plans cannot be procured unless a Medicare recipient also has Medicare Plan B. Upon joining Medicare Part A and Medicare Part B, one has a six month time period to join a Medigap insurance plan. During this time period, one’s existing medical conditions are not a problem to get this insurance. But if one waits beyond the six months, there will be no consideration in this matter. Also waiting beyond the six month time limit, a person will pay a definite increase in the cost of the premiums they will have to pay, as they wait each year beyond the limit.
Another important consideration one must look at is the insurance company they are thinking of joining. The cost of the each of the Medigap supplement plans can differ greatly between each company. Without researching the supplement insurance plans available, one can find as much as a $100 difference of the cost of a premium. This can be a great burden on one’s household budget for food and other essentials one needs to exist in their daily life
A person must first secure Medicare Plan B, so they will be able to get a Medigap supplemental plan that will cover the additional medical expenses that can be overwhelming to one who will be recovering from their medical situation.