April 2021
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Take a Medicare Policy That Suits Your Needs

If you are in the Original Medicare plan you are able to buy a Medicare supplement plan and both of them would pay you their share of coverage. It is to be noted that the Medigap policies are private health insurance plans and the private insurance companies can only sell them and not by any government organizations. These plans are totally administered by the private insurance companies.

But it is to be mentioned that though these plans are completely administered and sold by private insurance companies but still there are only 12 supplementary plans labeled A through L. All these plans have there separate policy coverage but the plans under the same letter cover must provide the same benefits. It means that no matter from which company you have bought the policy, they must provide the same coverage as provided by the other companies, nothing more or nothing less.
Let us start from part A.

Part A Medigap plan is your hospital insurance. It helps you to pay for the medical treatment that you receive in a hospital or skilled nursing facility. It also covers some of your home health care and hospice care, if you are ill for a time being. Part B is that part of the insurance coverage that helps you pay for the medical services that are not covered by the Part A policy. It also includes the Doctors charge. It is rather helpful when you are having a Part A policy. Part C is that part of the insurance coverage or such a Medicare supplement plan that combines both Part A and B coverage. It also provides some additional services.

The Part C Medicare supplement plan is offered only through Medicare approved private insurance companies. The Part D Medicare supplement plan is for your prescription drug coverage. It helps you pay for the medications prescribed by your doctor. In this case it is to be mentioned that the policy holders who enroll themselves for standalone Part D plan may not retain the drug coverage portion of their Medigap policy. But the beneficiary may choose to remove drug coverage from their current Medigap policy and retain all other benefits.

Now comes the most important point. Before choosing a plan for yourself you need to be very careful so that you may choose the right one for yourself and not loose the deal. Therefore seeking the help of an insurance agent can be the most fruitful as they are more aware of the policy details and the rates of different companies. Moreover it should be remembered that though the companies are bound to provide the same benefits under the same letter cover, but they have the freedom of fixing their rates. And the premium rates for the same plan may differ for different companies.

Therefore it is duly recommended to read the offer documents carefully as well as compare the premium rates for different companies before investing. However to choose the appropriate medigap policy that would work the best you may seek the help of some insurance agent so that he can help you in this respect.

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