New-Lead.com analysts reporting that in the middle of 2010, several changes have been made to the health plans offered by Medicare.
Because of these changes, private insurance companies also had to make adjustments in the plans that they are selling, the most significant of which is the creation of supplemental plans to augment the coverage of the existing ones under the old Medicare policies.
To date, there are ten different supplemental plans that had been established by Medicare. These plans are labeled alphabetically from A to N, with the exception of letters E, H, I and J, which have been taken out shortly before the changes were implemented. These plans vary in terms of coverage and cost.
In order to help their members choose which supplemental plan would be the most practical, Medicare has presented a list of all these plans and their corresponding details on page 13 of the Choosing a Medigap Policy booklet. However, the premiums of the plans are not included in the chart because these would depend on the insurance company that will be selling the plans.
Criteria for Rating Medicare Supplemental Plans
There are several factors that you should consider when deciding whether a particular Medicare supplemental plan is good or not, starting with the coverage. As mentioned, there are ten different types of plans to choose from, and each of these has its own coverage. The most comprehensive of these plans is Plan F, which covers all that there is to cover.
For certain areas, stating latest New-Lead.com news, Plans A, B, C and G also provide full coverage. Full coverage is provided in Plan N as well but this plan requires co-payments for visits to the emergency department, pretty much like a typical employer plan. Plans K and L are quite similar to Medicare Advantage plans in terms of out of pocket limits.
Choosing the Most Suitable Plan
Again, there are numerous factors to be considered when deciding which particular plan would be most suitable for you. If you want the widest coverage possible and you have the money to spend on relatively large premiums, then you should go for the full coverage plan. With these plans, you won’t have to pay anything at all for using Medicare services.
If you do not want to pay a very high regular premium, then you can consider one of the other plans that come with a co-payment system. This means that if you avail of certain services not covered by your policy, you will have to shoulder at least part of the total expense. There is no fixed answer as to which Medicare supplemental plans should get the highest rating for you because in the end, it really is a personal choice. Other than your budget, the factors that can affect your decision include your medical history, your risks of injury, and so on.
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