Supplement Medicare Plans

If you are currently on Medicare or are about to get on Medicare, Supplemental Medicare Insurance is something you need to look into. Medicare recipients receive the basic government medicare plan when enrolling at 65 years of age. There are a variety of supplemental medicare insurance plans available to seniors that are administered by private health insurance companies. Let’s look at the three major medicare plan types that you might want to purchase.

Supplemental Medicare Insurance

Medicare Supplement Insurance (also known as a Medigap Policy) is private medical insurance and was created to supplement the original medicare plan. When the medicare patient is seen , Medicare pays to portion of the Medicare approved costs of health care. Then the Medigap or Supplemental policy pays it’s share of the bill, leaving the medicare patient with lower out of pocket costs.

Having a supplemental medicare coverage is optional and each medicare recipient will have to weigh the advantage of paying a little extra monthly in order to reduce overall medical expenses for the calander year. A lot will depend on your current medical condition. The importance of a Medigap Policy will be much greater, for those Seniors that are older and have chronic medical conditions.  Find Supplement Medicare Insurance here!

Supplemental Medicare – Advantage Plans

Medicare Advantage Plans are similar to HMOs or PPOs and are also administered by private health care companies. Also called Medicare Part C, these plans combines Medicare Part A (hospitalization), Medicare Part B(physician services) and Medicare Part D(prescription drug coverage). Often these plans include additional benefits, such as vision care, hearing care, dental care with health and wellness programs.

Medicare pays a fixed amount to the plan for each medicare recipient enrolled in the medicare advantage plan. The monthly premium for these plans starts ar zero dollars and more for the premium advantage plans. There are typically co-pays for physician and health services.  Find Medicare Advantage Plans here.

Supplemental Medicare – PDPs

If the monthly cost of prescription drugs is of concern to you and you don’t have supplement medicare or an advantage plan, then a PDP or Prescription Drug Plan could be the best choice for you. Also called Medicare Part D these prescription drug plans are tailored to provide a solution for Seniors when it come to the price they pay for prescription medications. Some of the medicare prescription plans cost less than $20.00 a month and of course the price of the plans do vary depending on the plan benefits.  Find out more about Medicare Part D Programs.

Supplemental Medicare Insurance page updated Mar 29, 2012.

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