Are Medicare Supplement Plans a Waste of Money?

 

Some people feel you ought to have medicare coverage, whereas others feel otherwise. Till date, many people do not have any medical coverage. Some have not had the urgency to get one due to circumstances. Some have chosen not to go for a medical plan.

Are Medicare Supplement Plans in 2019 worth it?

This question may have crossed your mind, many a times. When the American aged population retires from their jobs, they realize that medicare is not free. That is a huge shock for them. If you are one of those who have never thought of investing in Part B, you will realize very soon that costs are simply huge.

You should definitely invest in good medicare plans for yourself and your family. The medicare plans are for individuals only. They are not for an entire family. You will have to purchase separate plans for each one of your family members.

 

Plan for everyone

There is a plan for everyone. There are ten different plans across all the states in the U.S. These medicare plans covers the gaps in your general Mediclaim policy. For e.g. your normal Mediclaim pays hospitalization benefits till 60 days. It is after this period that Medicare Supplement Plans start.

In Part B, You need to share costs for deductibles, like blood tests, X-Rays, medical equipment and such others. These are covered by these supplement plans.

Various plans have facilities to suit every pocket. You just need to choose the right one for yourself. Then there are open enrolment periods, during which you can enroll without being asked anything about your health.

Different medical insurance companies set their own rates. Please compare the plans before any purchase, to avoid getting cheated. Now, there is another type of plan called Medicare Advantage Plan. The most prevalent types are Health Maintenance Organizations, Preferred Provider Organizations and such others.

At some places, you will also find Medicare PFFS plans. They have network hospitals in these plans, with which they are connected. One thing is to be kept in mind, is that you need to stay enrolled in general Mediclaim Part A and Part B. That is a prerequisite.

These plans ask only one health question. That is a plus point. So, now it is pretty clear to you if you need Medicare Supplement Plans or not.

You just need to choose the right one. That is half the work done.