Finding the Best Medicare Supplements

For individuals eligible for Medicare coverage, there is an astounding array of choices in supplemental plans. While all Medicare supplemental plans are not available in all states, the best Medicare supplements offer low premiums and extensive preferred provider networks to allow maximum choice to participants. Typically, Medicare supplements base their premiums on one of three cost determinants. Attained age premiums are based on the current age of the member, and increase significantly as participants grow older. Issue age plans are based on the initial age of the member at joining, and do not increase in cost materially with age, although cost of living and inflation adjustments may be made to the premiums. The final type, community rated plans, are based on the geographical location of the participant and are not based on age. Some supplemental plans use a combination of these cost determinants to price their policies, while others base their premiums on only one of the three.

There are twelve different types of Medicare supplemental plans, referred to by the letters A through L. Each offers specific benefits to the member. All Medicare supplements cover the copayments for hospitalization from day 61 through 90 of a hospital stay, up to 60 days of additional hospital care to be used once during your life, and 20% coinsurance for procedures and services that are also covered by Medicare Part B insurance. Each plan must offer Medicare Supplemental Plan A. Plans B through L include such additional features as foreign travel insurance, skilled nursing coverage, payments for the Part A and Part B deductible amounts, at home recovery expenses, and preventive care not usually covered by Medicare. These plans offer the same benefits regardless of which company is chosen to provide them; only the premiums and the availability of services differ from company to company.

The best Medicare supplements offer low premiums while guaranteeing the high quality of services provided through these plans. By investigating a variety of insurance carriers and comparing rates, prospective members can be certain they are obtaining the best Medicare supplements available for their specific needs.