Medicare supplement plans cover certain costs not covered by Medicare A & B
Medicare supplement plans (also referred to as Medicap) help to cover certain costs not covered by the original Medicare. For example, certain deductibles and coinsurance costs are not covered by Medicare parts A and B. These plans supplement Medicare, they don’t replace it. PRS Insurance can help you with Medicare supplement plans in Dallas, Denton or Houston as well as other medical insurance products such as advantage plans.
Medicare supplement plans are named after the letters of the Alphabet such as plans A, B K and N. Some plans limit your out-of-pocket costs whereas others focus on cost sharing. For example, plan B might offer coverage for part A deductibles. Plan C might cover skilled nursing care as well emergency care when abroad.
Medicare supplement plans are sold by private insurance companies. When you use an agent o broker such as PRS Insurance, it is easier to compare plans, costs and benefits. These Medigap policies will help to pay your share of direct Medicare costs such as copayments and coinsurance. Basically then supplemental insurance is additional insurance you can buy from one of the private insurance companies or through a broker or agent.
Since a Medigap policy supplements Medicare if follows that you must have Medicare A & B in the first place in order to apply for a Medicare supplemental plan. The best time to buy a Medigap policy is during the open enrollment period. During this period the insurer cannot refuse your policy, even if you have a pre-existing condition. They can also not charge you more than what they charge other customers. If you apply for a Medicare supplement plan outside the open enrollment window you might not be accepted or you might end up paying a higher premium.