Supplemental Insurance : Part A, Part B, Part C, Part D

Supplemental Insurance which is also known as medigap is a private insurance that help to pay health care cost that the original medicare plan does not cover. It covers many of the cost that people would have to pay out of pocket. These payments could include co-payments, coinsurance, and deductibles. Medicare supplement policies will only pay for those services medicare deems medically necessary, and only those charges that medicare has approved.

In order to understand supplemental insurance, a person would need to understand how medicare works. A person must be a participant in the original medicare Parts A and Part B and have a supplemental insurance policy in place. When a person receives medical services, Medicare will pay its portion of the bill and then the supplemental insurance will pay its part. According to current law, monthly premiums for an individual with a tax return of $85,000 will amount to $96.40 a month. A married couple with a joint return of $170,000 will pay $96.40 a month. As Income increases. The premium will increase. The deductible for Part A medicare which is hospital insurance is $1,100 per illness and $155.00 for Part B which is physician insurance.

Part A Supplemental Hospital Insurance

Pays medicare part A coinsurance, but not the Part A annual deductible. Part A will also pay 365 days of coverage after medicare coverage ends.

Part B Supplemental Medical Insurance

Will pay Part B medical coinsurance, but not Part B annual deductible.Part B will also pay the copayment for hospital outpatient services. Part B coinsurance is about 20% of the medicare-approved amount for services. Part B will also cover the first three pints of blood a person might need during the year.

Part C Supplemental Insurance

Pays coinsurance for Part A and all costs after hospital benefits are exhausted. Part C will also pay coinsurance or copayment for other than preventative services. Part C will also cover the first 3 pints of blood need.

Part D Supplemental Insurance

Extends basic benefits, covers skilled nursing facility care and pays a coinsurance after the first 20 days. Plan D covers home recovery, medicare part A deductible and any payment need for emergencies during foreign travel.

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