Supplementing Medicare
August 9, 2009 by Weber's Insurance · Leave a Comment
Medicare supplemental health insurance is confusing and may seem to be overwhelming to many. Maybe this will help. There are two major categories of supplemental plans: government designed plans and government contracted plans.
Government designed plans are the Medicare Supplements or Medigap policies. They come in 12 standard choices with two of the choices available with a simple modification. The choices are called Plan A, Plan B, Plan C, Plan D, Plan E, Plan F, Plan G, Plan H, Plan I, Plan J, Plan K and Plan L and the modified plans are the High Deductible Plan F and the High Deductible Plan J.
As the letters increase from A to J, the coverage generally increases and the premiums are generally higher. Plans K and L are lower coverage and lower cost alternatives. The high deductible versions simply impose a deductible before the insurance company pays any benefits as a way to cut your health insurance premium costs.
One important thing to remember. You don’t have to waste much time trying to figure out which company’s Plan F Medicare Supplement is better than the other company’s. The government designed the coverage and the insurance company is just providing the benefits. Cost is the only difference between two or more Plan F policies other than customer service and quality of company issues.
Government contracted plans are the Medicare Advantage, Medicare Cost, Medicare PPO, and Medicare Private Fee For Service (PFFS) plans. For these plans, the insurance company and the government enter into a contract.
As a perhaps an oversimplification, the government essentially provides the money and the insurance company provides the benefits and plan administration. The concept is that private industry can offer more senior health benefits with the same money in exchange for some plan restrictions on your part, and they often do just that.
A Medicare Advantage Private Fee–for–Service plan works differently than a Medicare supplement plan. Your doctor or hospital can continue to treat you if it agrees to accept the insurance company’s terms and conditions of payment, and thus may choose not to treat you, with the exception of emergencies.
If your doctor or hospital does not agree to accept our payment terms and conditions, they may choose not to provide health care services to you, except in emergencies.
Contact Weber’s Insurance about your Medicare Supplemental insurance needs. We can help. Call us at 928-445-8720 or, if you prefer, just email us.
