Posted on September 25, 2018
You could purchase the Medicare Supplement Plans if you are over the age of 65 and have Medicare. This will help to cover the costs that the original medical plan does not offer to you. The gaps that are created in the traditional Medicare plan are huge and this could end up in you paying lots from your pocket. With the Medigap plan you can save on these out of the pocket costs.
The Medicare Supplement Plans need to be purchased and they are not offered for free. You buy it from a private insurance company and pay a premium towards the plan. This is additional to the costs that you pay towards Medicare.
The basics of the Medicare Supplement Plans
The Medigap plan is a standardized plan and is regulated. The plans are identified by letters namely A, B, C, D, F, G, K, L, M and N. The plans that have the same letters have the same benefits. But the premium cost could vary from one insurance company to another.
Buying the Medigap plans an be done at https://www.bestmedicaresupplementplans2019.com/
The Medicare supplement plans availability could vary from one location to another as well as is different from one insurance company to another. Plan A is something that every insurance company will have but the other plans could be different. The cost could also be different based on where you reside as well as the plan that you opt for.
Why should you buy Medigap plan?
It is not necessary that everyone does have a Medigap plan. These are some reasons why you should consider purchasing the Medigap plans.
- You are retired or unemployed. If you do not have a plan that is sponsored by your employer for Medicare then the Medigap plan helps you.
- If you are being treated for some health condition. If you are seeing your doctor regularly then the Medigap plan can offer you a lot of protection.
- The medical expenses could come unexpected and thus this supplement insurance gives you peace of mind.
- You do not qualify to fall under the low income category to get medical expense benefits. In this case a Medigap policy helps you with the deductible and copayments and you are also saved from the huge out of the pocket expenses.
If you have a Medicare plan but are not willing to pay a lot of money towards some unplanned medical expenses then you would have to supplement your medical plan. The Medigap plan is your best bet for the peace of mind that it offers to you.
Posted on August 22, 2018
Besides Medicare’s programs that assist people with low incomes and help them pay their plans, and Medicare’s plans like Medigap policies that help you save money, there are other ways in which you can reduce costs when using health care services. One of them is assignment, which can be really useful when going to the doctor. In this article we will explain you how to lower your Medicare costs with assignment.
What is assignment?
Before going to the doctor, you should check if he or she accepts assignment. Accepting assignment means that your doctor (or health care supplier/provider) agreed to accept Medicare-approved amounts as full payment for the services. Sometimes, doctors and health care providers and suppliers are required by law to accept assignment.
What are the benefits of going to a doctor that accepts assignment?
Benefits of going to a doctor that accepts assignment are the following:
- Your out-of-pocket costs will be lower.
- You will be charged only the Medicare deductible and coinsurance amount. You will have to wait until Medicare pays its share before being asked to pay your share.
- Your claim will be directly submitted to Medicare and you won’t be charged for that.
How does assignment work?
Doctors who accept Medicare-approved amounts as full payment for the services are called participating doctors. When you receive a service, Medicare will be charge 80% of it and you will be charged 20%, as part of Part B benefits. This will happen after you pay your annual Part B deductible.
In case you are getting a preventive service that Medicare provides for free, like a mammogram, it will be free only if it is provided by a doctor or other qualified health provider that accepts assignment.
What happens if my doctor does not accept assignment?
Doctors who do not accept Medicare-approved amounts as full payment for the services are called non-participating doctors. When you receive a service from this kind of doctors (or health care provider/supplier) you will have to pay an additional charge of 15% above the cost of the service, because that is the charge limit for non-participating doctors. This is called Medicare excess charge. This means that you will have to pay up to 35% of the Medicare-approved amount instead of 20%.
This limiting charge only applies to certain services covered by Medicare and does not apply to some supplies and medical equipment.
It can also happen that a doctor has opted out Medicare. This is very common as doctor usually change insurance networks. If this is your case, the doctor can charge the amount of money he desires and you will have to pay the entire cost of the services you receive. We suggest to find another doctor if you don’t want to pay for the services on your own.
What happens if I don’t have Original Medicare or I have a Medigap policy?
A Medicare Supplement 2018 policy quote can be obtained by visiting http://www.comparemedicaresupplementplans2018.com
The rules mentioned above only apply if you have Original Medicare. In case you have a Medicare Advantage plan instead of Original Medicare, you will have to pay what your plan requires.
In case you have a Medigap policy, remember that all Medicare Supplement Plans partially or fully cover Part B copayments, which is the 20% mentioned above, so you won’t have to pay for it and that amount should be charge directly to your Medigap policy.
Additionally, there are two Medigap policies that cover excess charges from doctors that do not accept assignment, which is the 15% mentioned above. These are Medicare Supplement Plan F and Medicare Supplement Plan G.
How do I know if a health care provider accepts assignment?
Discovering if your health provider accepts assignment is really simple. You can use Medicare’s tool called “Physician compare”, in which you can search doctors in your area based on if they participate in Medicare or not. You can also simply contact them and ask if they accept it, in case you were considering a particular doctor.