Recommended Medicare Supplemental Insurance Plans

There are many options in the kind of health insurance that can be purchased to suppliment Medicare coverage. These suppliments can cover parts or in some cases all health care costs which are not fully covered by Medicare and can include Employee or Retiree Coverage and Medigap Insurance. These are refered to as forms or supplimental insurance. Medicare supplemental or Medigap insurance is privalte insurance of a specific type and is subject to different State and Federal laws.

Medigap is a form of Medicare supplimental insurance which is sold by private insurance companies to cover things that is not covered in the original Medicare plan. In Medigap there are ten standardized policies and the state in which you reside makes the decision on which of the ten policies can be purchased. Medigap insurance policies only work with within the original Medicare plan.

Medicare Select is another type of Mediacare supplimental insurance. This is a type of Medigap policy that has to meet the requirements taht apply to a standard Medigap policy. In order to be eligible for the full benefits you might be required to use doctors and hospitals within its own network.

Managed Care Plans is a form of Medicare supplimental insurance which has to do with a group of doctors, hospitals, and other health care providers. These aspects have an agreement to provide medical care to the benificiaries of Medicare for a certain amount of money that is paid by Medicare every month. Manged Care Plan supplimental insurance includes the use of Helth Maitenence Organizations (HMO’s), HMO’s with a Point of Service option, Provider Sponsored Organizations (PSO’s), Prefered Provider Organizations (PPO’s), and Cost Plans.

The Providers are:
Ã?· HMO – For hospital visits you must go to specific plan doctors and hospitals
Ã?· HMOs with POS Option – You are allowed to use doctors and hospitals outside of the Managed Care plan at additional costs
Ã?· PSO – For hospital visits you must go to plan doctors and hospitals
Ã?· PPO – You are allowed to use doctors and hospitals outside of the Managed Care plan at additional costs
Ã?· Cost Plans – You can use doctors and hospitals outside the Managed Care Plan but will have to pay the coinsurance, deductible, and estra charges. You have to pay these things which you would pay normaly under the original Medicare plan

A Medicare Medical Savings Account is another form of supplimental insurance which is made up into two parts. One part is a Medicare MSA Health Insurance Policy that has a high deductible and the other part is a specific savings account in which Medicare deposits funds to aid in any medical expenses that you have..
A Private Fee For Service Plan is also a form of supplimental insurance which accepts Medicare members. In this plan you can visit any hospital or doctor of your own choosing but this plan, not Medicare, decides the costs of the services. It is possible that you will pay more for Medicare benefits which are covered but you also can receive extra benefits in which the original Medicare plan does not cover.

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