Supplementing Medicare with peace of mind
Understanding and Supplementing Medicare
Medicare is the largest health insurance service in the nation, serving nearly 60 million Americans who have reached 65 years of age, and those under 65 with certain disabilities. Medicare coverage has become a healthcare necessity for most seniors. Medicare Supplement Plans cover the gaps not covered by Original Medicare. Medicare Supplement Plans or "Medigap Plans" pay the deductibles and coinsurance percentage, left unpaid by Medicare.
Medigap plans are standardized, but not all supplement providers offer all plans in every state. The Centers of Medicare and Medicaid Services regulates plan standardization. Benefits paid by Medicare are determined by the "Medicare Allowable Charge," also referred to as the "Medicare Approved Charge." Once Medicare has paid its portion of the claim, the beneficiary is left with the unpaid balance, unless covered by a Medigap or Medicare Supplement Plan. Understanding and supplementing Medicare are processes made simple with the National Medicare Plans.
Supplement Plans
Most Americans imagine Medicare covers all their healthcare expenses. Contrary to this belief, Medicare was never designed to pay 100% of a senior's health expenses. However, Medicare does pay a majority of a beneficiary's hospitalization under Medicare Part A; except for the initial hospital deductible, and when certain coinsurance charges occur, during a lengthy hospital stay. Medicare also covers out-patient services and doctors office visits under Medicare Part B, up to 80% without limit. To compound this cost, a physician who does not accept Medicare can charge an additional 15%, above the Medicare allowable charge for out-patient medical services.
Without a Medicare Supplement policy, the beneficiary pays 100% of the unpaid, approved charges, plus the excess charges, if any. The solution to supplementing Medicare involves choosing the right Medicare coverage for your unique situation. An appropriate Medicare Supplement Plan makes your healthcare coverage whole.
