If you are in the original Medicare Plan, you may want to buy Medicare Supplement Policy, also called a Medigap plan. If you currently have a Medicare Advantage plan you will not need to purchase a supplemental insurance policy. All Medicare Supplements are sold by private companies and offer a variety of plan choices to fit your needs and budget.
Medicare
Once you pay your yearly Part B deductible, Medicare generally pays 80% of doctor and other medical services.
Every Medicare Supplement plan covers your share of these services such as 20% of Medicare approved doctor services and 50% for mental health services. Medicare approves the payment amount of reasonable health care services.
Medicare does not cover the first 3 pints of blood you need each year. Every Medicare Supplemental plans cover these 3 pints of blood you require each year - Medicare will then pay for any additional blood.
Medicare Part B
Once you have paid your hospital deductible - original Medicare pays all of your hospital care costs for up to 60 days in a benefit period. If you decide to stay on the plan for more than 60 days - you are required to pay $408 rate per day for days 61 through 90.
For days 91 through 150 the cost will be $816 throughout 2024. All 10 supplemental plans cover your costs for days 61 through 150.
In addition, once you use 150 days of Medicare hospital benefits, all Medicare Supplemental plans cover 365 more hospital days in your lifetime.
Medicare Part A
Medicare Supplement Plan A (as well as Plan B through N) covers only the basic benefits – for some, this is all they need, for others, they may want to have additional supplemental coverage with Plans B through N.
At a higher monthly cost, you can purchase a Medicare Policy with the following additional benefits:
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Medicare Part A Hospital Deductible
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Skilled Nursing Home Costs
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Medicare Part B Deductible
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Medicare Part B Excess Charges
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Foreign Travel Emergency
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At Home Recovery Preventive Care
Medicare Supplement Additional Benefits
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Medicare prescription drug coverage helps you pay for the prescriptions you need.
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Medicare prescription drug coverage is available to all people with Medicare.
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Medicare prescription drug coverage pays for brand name as well as generic drugs.
Medicare Part D plans are available as a stand-alone Prescription Drug Plan or through a Medicare Advantage Plan.