Medicare Supplements Made Easy

By Richard Cantu

There is a confusing time that all senior citizens must endure. It is full of unexpected twists, turns, tunnels, and loops all complemented by confusing jargon. What is this maze? It is the task of becoming enrolled in Medicare and choosing a Medicare supplement policy to ensure future well-being.

Not being aware of the basics of finding Medicare supplementary coverage will most likely increase your chances of making a decision which could come back to hit you in the pocket book. It is of utmost importance to take the time to research Medicare, its components, and supplemental coverage. After doing your research, you should make a better decision regarding your healthcare coverage, and you should be able to navigate that Medicare supplement maze in a jiffy.

When you get involved in Medicare supplement research, the most common confusion will be the differentiation between 'plan' and 'part'. As a Medicare patient, Part A and B refer to hospital and doctor or other medical services respectively. Part C is known as the Medicare Advantage plan, and Part D is prescription coverage. These are essentially parts of your medical care that is covered.

Plans refer to the 12 plans that are out there for supplemental insurance. Each plan has different levels of coverage for Part A and B coverage, and offers different deductibles, co-pays, coinsurance, and premiums. Speaking of premium, that is the cost that you will pay each month for your supplemental insurance, and it is determined by the insurance company.

Medicare supplement plans are also commonly referred to as Medigap plans, which can confuse some people. The words are interchangeable and both point to the 12 plans that you can get to supplement your existing Medicare coverage.

Co-pays and co-insurance are essentially the same thing, although some policies will define them differently. It's the expense that you'll pay out of pocket for your medical care, and is something that is important to know.

Taking the time to research the technical terms associated with Medicare and the 12 standardized Medicare supplemental plans should enable you to cut through the maze of choosing one with ease. You should allow yourself time to decipher the meaning of these terms then apply those to your decision of a Medigap policy. Find the one that will be the best for you. Rushing through this maze may cause problems in your future. Do your research, prepare, and be informed. Make a decision that will ensure your future health and wealth. - 32502

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