Medicare Supplement Plans: F, G and N
You may be asking yourself, what is included in a Medicare supplement insurance? You may have heard it called Medigap insurance, especially if you are in the south. Medicare supplement insurance is a private health insurance that will help supplement original Medicare coverage or coverage from your existing health insurance. Medigap policies can help cover the gaps in your insurance including copays, coinsurance, and even deductibles. Each Medicare supplement insurance plan will have to customized to fit the state you live in, and of course, follow federal law as well. There are standard policies that will be listed later in this article, but you need to know that you will need to get the plan that best fits you. Medigap policy can cover Part A, Part B, and include coinsurance, copayments, and deductibles. In this article, we are going to be dealing with some of the more common Medicare supplement plans, Plan F, Plan G and Plan N.
Plan F
This plan is for those who think less is more when it comes to premium Medicare supplement insurance plans. This plan includes the Medicare Part A and Part B deductibles, copayments and coinsurance like the rest of them. However, this plan also includes skilled nursing facility care, foreign travel emergencies and 100% coverage of Medicare Part B excess charges. No more digging in your wallet for an ambulance trip, this plan will take care of it all.
Plan G
Plan G allows for a great flexibility for a Medicare supplement insurance plan. Not only will is cover Medicare Part A and Medicare Part B, but will cover all the Part A deductibles, skilled nursing care, foreign travel emergency funds as well as, 100% coverage for Medicare Part B excess charges. No longer will you have to worry about paying out of pocket with this plan. The only benefit not covered by Plan G is the Part B deductible of $183. For more information on Plan G in your state go here.
Plan N
Plan N is generally part of the 10 standardized medicare supplement plans and offers standardized benefits to their users. It will cover Medicare Part A hospital coinsurance and other costs up to an additional 365 days after Medicare benefits cease. Medicare Part A hospice care coinsurance, and the deductible associated with Medicare Part A. As well, it will cover the Medicare Part B coinsurance, and ensure that the skilled nursing facility care coinsurance is taken care of. Finally, it will cover the first three pints of blood used in a medical procedure on a yearly basis, and 80% of foreign travel emergency care. It really is the all in the plan, if you are looking to take care of both Medicare Part A and Part B costs.
Medicare supplement plans can be a true lifesaver and will avoid the costs of a long-term hospital visit if you so need one. If you are not on a group health insurance plan, a Medicare supplement plan is the right choice in the long run. You cannot avoid the costs of medical services in the United States, and the sooner you are covered, the better off you will be.