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What is Medicare Supplement Insurance?

· Supplement Plans,Medigap
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A Medicare supplement policy, also known as Medigap, is a supplemental insurance plan that will help to pay for some of your medical care expenses that Medicare does not cover. This could include deductibles, out-of-pocket costs, co-pays and copayments.
 

As with any type of insurance, Medicare supplement plans can be confusing. Some may appear like they are a part of your regular Medicare plan and some may look like they are not a part of it at all. Understanding what each plan covers is important in order to avoid costly mistakes. This article will help you learn about Medicare supplement policies and how to read them before making an appointment with your doctor.
 

There are four types of Medicare supplement plans: Parts A and B. These are called PPOs (Preferred Provider Organizations), POSs (Point Of Service Plans), HMOs (Health Maintenance Organizations) and FFSs (fee-for-service plans). A PPO, or Preferred Provider Organization, is designed to provide preventive care for a fee and can be used for routine checkups, vision care, preventive care, hearing tests, lab tests and immunizations. A PPO gives a network doctor the right to refer a patient to the insurer's network of doctors for a co-pay, deductibles and other costs.
 

An HMO or Health Maintenance Organization (HMO) policy gives you access to a variety of physicians in a network. Your primary care doctor (PCP) chooses your health provider for Medicare Part A and Part B services. Your HMO provider is required to participate in the network and participate in a payment schedule that allows you to be treated by a physician in the network for reasonable costs at prices set by the insurance company.
 

A FFS (fee-for-service) Medicare Part B plan is for people who need more specific care. It is designed for people who have high medical needs or health issues that require specialized care. You do not choose your physicians and are not required to accept the care that is provided but are not required to pay the full amount of the doctor's bill unless there are special situations.
 

Medicare supplement insurance plans cover both Part A and B. Medicare Part D, an optional prescription drug benefit, may be covered under your HMO plan if your physician has accepted it and has agreed to accept it, or you may find that your doctor will not accept the plan if you do not contact them directly. To know more about medicare supplement plans, go here!