As the name suggests, the purpose of a Medicare supplement plan is to supplement Original Medicare and pays healthcare costs not covered by Original Medicare. On average, Original Medicare covers about half of the healthcare expenses and rests of expenses are covered using Medicare supplement plans in Texas. Hence, Original Medicare plus Medicare supplement plan provide medical beneficiaries a complete healthcare coverage.
Medicare supplement plans in Texas offer many advantages. Let’s have a look at a few key advantages of Medicare supplement plans.
Cover out-of-pocket costs
Medicare supplement plan nearly covers all the out-of-pocket costs such as copayments, deductibles, and coinsurance. Medigap plan F is the most expensive Medicare supplement plan that covers almost all the gaps of Original Medicare. Medicare supplement plans have higher monthly premium but could result in lower out-of-pocket costs than some Medicare Advantage plans.
Covers all doctors and hospital in the country
Medicare supplement plan covers you if you visit a doctor or hospitals that accept Medicare. And, almost all the doctors and hospitals in the country accept Original Medicare. Medigap policies cover 50 states and some plans even provide emergency coverage outside the United States. Therefore, Original Medicare plus Medicare supplement plans in Texas is probably a better choice than Medicare Advantage plan if you travel frequently.
Fill gaps in coverage of Original Medicare
Original medical care does not cover part A Hospice care, the first three pints of blood, emergency health coverage outside the country and many other healthcare benefits. Medigap plans fill these gaps in Original Medicare and provide you complete healthcare coverage so that a bad health year could not leave you with loss of thousands of dollars.
So these are the three key advantages of Medicare supplement plans.
Four things you should know about Medicare supplement plans
1. You can buy medical supplement plan only if you have original Medicare. One cannot buy both Medicare Advantages plans and Medicare supplement plans. You cannot buy medical supplement plans to cover out-of-pocket costs of Medicare Advantage plans.
2. Medicare supplement plans do not include part D coverage. So if you want Medicare prescription drug coverage, you have to actively join and choose a stand-alone Part D plan.
3. Medigap policies cover only one person. So if your spouse also wants Medigap policies, he or she has to separately purchase Medicare supplement plans in Texas.
4. Medical supplement plan does not offer extra benefits like routine dental visits, private duty nursing, vision care, and hearing aids if you travel outside the U.S. Medigap policies.
So before making any decision, it is always good to weigh the pros and cons of all available options.
The Harrin Group, LLC is an independent insurance agency providing health insurance, life insurance, Medicare Advantage plans, Medicare Supplement Insurance (Medigap) plans, retirement solutions, and annuities for San Antonio and all of Texas, California, and Florida. To know more, visit harringroup.com.