You can start preparing for future medical insurance coverage right now. If you haven’t thought about Medicare Supplement Plans for 2018, and you are eligible for these plans, then you should definitely take some time to look at them.
These are not plans that change very often, which is why it is fine to start looking into them now. After all, you will be able to sign up for them soon. If you think that there is a possibility that you could use some extra coverage for your medical bills, then it is worth giving these plans a look. Here are some facts you should know about the supplemental Medicare plans.
They Are Only Available for Medicare Subscribers
Let’s put this simply, as it is the most important point here: you have to have Medicare to be able to sign up for one of the Medicare supplement plans. While they don’t offer any overlapping coverage, they do offer complementary coverage. The supplemental plans cover what Medicare’s basic plan does not. There are still going to be medical expense you have to pay for out of your own pocket, but these supplemental plans can take care of the majority of what remains after basic Medicare does its part.
Each Plan is Unique
Maybe it goes without saying, but each plan has something different to offer from its counterparts. The various Medicare Supplement Plans for 2018 cover expenses such as some additional blood (beyond Medicare’s coverage), coinsurance for both Medicare parts A and B, deductibles for both parts A and B, excess charges, nursing care, foreign travel exchange and hospice care.
You can kind of pick and choose how much coverage you get with the plans, since they all offer a different selection from what’s available. Some plans will cover the majority of these expenses, while others will only cover a few items or only partial coverage for some items. You get to decide how much coverage you want to have, which is why it is so important to look at the options ahead of time and know what you could benefit from.
You Don’t Buy These Plans from the Government Directly
While the government, through Medicare, will regulate the plans and ensure they all have the right coverage, they don’t actually sell them to Medicare subscribers. Instead, they allow a third part insurance company to sell the plans at their own rates. These insurance companies have to give you the plan of your choice at a rate that doesn’t factor in preexisting medical conditions, if you purchase the plan at the right time. That time is during open enrollment, and you definitely want to catch that window, which is why you should be prepared ahead of time to sign up for the plans when they become available.
Medicare Supplement Plans for 2018 will be ready for purchase soon, and you want to be fully prepared to choose the best plan for you and your needs