While Medicare pays a set portion of your health care costs such as hospitalization, nursing, facility care, physician’s services, and supplies it does not cover it all. A Medicare supplement insurance policy assists you pay for some of the charges that Medicare does not cover. There are many choices you have for health care coverage and it is important that you understand how they all work. Here is a quick look at how Medicare supplement insurance policy differs from other coverage.
Benefit #1: Your Medicare supplement insurance policy enables you to see any doctor or provider you wish as long as they accept Medicare. You are allowed to select the health care providers you wish to use. You do not have to worry about doctors or hospitals leaving a provider network and you do not need a referral to visit a specialist.
Other health care plans have local networks that could possibly prevent you from receiving care from the people you have grown to know and rely on. Read each plan closely because some plans let you see anyone as long as the care provider accepts the plan’s payment terms, while others allow you to go outside the network, but you will need to pay for the services yourself and they tend to cost more.
Benefit #2: They have very low out-of-pocket costs. Each year, the benefits of your Medicare supplement insurance policy work with your Medicare benefits to help you meet your suitable health care expenses, depending on which plan you pick. Additionally, you can be sure that your benefits will not decrease.
When considering others find out how their health plans work before joining. Some annually change their benefit limit, which will decrease your benefits and increase your out-of-pocket costs.
Benefit #3: Your Medicare supplement insurance policy cannot be cancelled. It will continue to be renewed as long as you pay the premiums on time and make no material misrepresentations.
Contracts between the government and some health plans are reviewed annually. As a result, plans may change or not be renewed which forces members to chose another health care option.
Benefit #4: Just like Medicare, your Medicare supplement insurance policy covers your health care needs anywhere in the United States. Some Medicare supplement plans even provide limited medically necessary emergency care outside of the country. That way, you can confidently travel or live part of the year anywhere you choose to without worrying about your health insurance.
With some of the other health care plans, there may be charges for care no matter where you go. Carefully check all the plan’s travel rules and restrictions before traveling.