Soon you will be 65 years old. It can be challenging to master all the details about Medicare supplements. It is even more complicated to learn about all the options, such as medical supplements and health care benefits. As you already know, Part A is for hospitals and Part B is for doctors. But you may not be sure if you need more insurance than the original Medicare.
Why do many people enroll in a Medicare supplement policy and what does it consist of? To answer the question, first of all, it is necessary to understand how Medicare Parts A and B work, what is insured and what is not. Medicare Part A insures many hospital expenses but not all expenses. A deductible of $ 1,132 per visit is made in 2011, provided that each visit is separated by more than 60 days.You will have a daily co payment of $ 283 if you stay in the hospital between 61 and 90 days. You will have a daily co pay of $566 if you remain in the hospital for 91-150 days.
In 2011 also, an annual deductible of $162 was made for Medicare Part B for which you will be responsible. In addition to that, you will be responsible for 20 percent of all medical expenses. 20 percent can really accumulate. In addition to your regular exams and medical exams, imagine that you need a hip or knee replacement that requires many months of physical therapy, but you will be required to pay 20% of all bills.
AlthoughOriginal Medicare insures most medical needs, it has never been designed to insureall medical costs. As you can easily see, there are lots of “gaps” inthe insurance that you are required to pay. This is why many people will buyMedicare or Medigap supplemental insurance. The twoterms, Medigap and Medicare Supplements are used interchangeably, two namesthat describe exactly the same insurance policy. Many Medicare health care policieswill insure the deductible part of Part B and also your co payment and hospitaldeductible and the 20 percent.
The frightening part for most people is being exposed to the 20 percent of medical expenses. A series of tests could cost a small fortune. If you need rehabilitation or physical therapy, those who visit it twice a week, at a cost of 20%, accumulate. When the potential part of Part A of the hospital allocation of $1,132 per visit is included, a medical bill will be observed. That is why many people want to fill these gaps in insurance.
Having aMedicare supplement policy means that you will incur extra charges every month.However, the compensation is that you will have a lower expense, instead of a very high cost if you use the benefits. Thisoriginal Medicare is the primary insurance if you have a Medigap policy inaddition to your red, blue, and white Medicare card. Pay the medical billsfirst, after which the Medicare care policy will pay for the gaps that Medicaredoes not insure.