As we age quality healthcare becomes much more important. Living a long and health life is our first priority, and ensuring we have access to the best doctors and hospitals is the main factor upon which our success will be determined when achieving this goal. There are several Medicare plan options available to people who are over 65, many of which can be quite confusing. The most important decision one must face is whether to purchase a Medicare Advantage Plan or a Medicare Supplement Plan. Medicare Advantage Plans have been extremely popular over the past few years as they have had a low monthly premium and often offer extra benefits. However, with the upcoming budget cuts, which are a result of the healthcare reform bill, these plans are much less appealing for those who are looking to save money while still receiving excellent care. In fact, many of the nations top doctors and hospitals no longer accept any Medicare Advantage Plans and will only take new clients who are enrolled in original Medicare. In addition to the lack of provider options, many insurance companies are exiting the Medicare Advantage market altogether. This means thousands of seniors are left without coverage while they search for a better insurance option. Often, this can come at very inopportune times when making choices can be quite difficult. Medicare Supplement Plans are the best option for seniors as fewer doctors and hospitals accept Medicare Advantage Plans. These plans, while they can be more expensive on a monthly basis, are often more affordable in the long run as there are fewer out of pocket expenses. Furthermore, almost all doctors and hospitals who accept original Medicare accept all Medicare Supplemental Insurance. Plan F is the most popular option for all Medicare Supplement Plans as it provides the most comprehensive coverage. Keep in mind these plans are standardized, which means every company offers the same plans with the same benefits. Insurance companies cannot change the benefits, nor can they add additional benefits. Seniors who purchase Medicare Supplement Plan F rarely pay any medical bills and receive excellent care. Plan N is a great alternative for people who are losing their Medicare Advantage Plans. This is one of the two new Medicare Supplement Plans, which were introduced on June 1st, 2010. Medicare Supplement Plan N is much more affordable than Plan F, but you must pay the annual Part B deductible, which is $155 in 2010, and $20 co-payments at the Doctor. In addition, people who purchase this plan also will have a $50 co-payment for Emergency Room visits. Medicare Supplement Plans have proven to be far superior to Medicare Advantage Plans. Experts expect thousands of people who are currently enrolled in Medicare Advantage Plans will elect to discontinue their current coverage in favor of supplemental insurance during the upcoming annual enrollment period, which begins on November 15th. Be sure to consult with a national insurance broker who specializes in Medicare Supplemental Insurance before making any purchasing decision.
As we are to discuss about the Medicare supplement plans or the Medigap plans that is why it is better to say that a health insurance plan is a helping aid for your unexpected medical costs. It is a contract between an individual and an insurance company in which the type and amount of health care costs that would be covered by the plan are specified and for which the individual agrees to pay premiums. These contracts are renewed either monthly or annually. But his basic thing is slightly different in our policies. From its very name you can imagine that there is some gap coverage between two things. Actually the original Medicare health plans are under government administration but these plans fails to pay all the costs spent in a treatment of the policy maker. In this position the person may face some real difficulties to have short of money. For their advantages solely some private companies have introduced this plan named Medigap plans or Medicare supplements plans which truly supplement the original plans responsively.
Let us now have a look at the history of the health insurance plans. It was Hugh the Elder Chamberlen from the Peter Chamberlen family, who was the first one to propose about the health care insurance plans in 1694. And perhaps the accidental insurance was the first among the health insurance policies first launched during the late 19th century. This was something like the modern disability insurance. This type of policies continued till the start of the 20th century. The accidental insurance was first launched in the United States by the Franklin Health insurance Company of Massachusetts, which was founded in 1850. They offered insurance against the injuries from accidents caused by railroads and steamboats. Soon after, by the year 1966, about sixty companies were found to be offering accidental insurance in the United States. However, the main drawback was that other than the accidental insurance the Medicare beneficiaries were to pay for all other medical costs. Later during the late 20th century begins the start of the modern health insurance programs. And gradually it evolved and the present day Medicare policies cover a lot more things like preventives, emergency health care procedures, prescription drugs and others.
Other than the original Medicare policies these days there are also the Medicare Supplement Plans. The Medicare Supplement Plans or the Medigap policies are supplementary health insurance policies that are sold by the private insurance companies. These policies are not independent policies and are closely related with the Original Medicare. The purpose of the Medicare Supplement Plans is to fill up the gap between the policy coverage of the Original Medicare plans and the actual medical bill payable. That is a reason why these policies are also known as the Medigap plans. However, though these plans are totally administered and sold by the private insurance companies still there are only 12 standard plans under the letter heads A through L that they are permitted to sell. And along with that it should also be remembered that each of these policies provides different benefits but the policies under the same latter cover should provide same coverage, irrespective of the company selling them.
Original Medicare plans are beneficiary for your future and for your health purpose. These plans promise you your better health and thus life and that is with minimal spending. This gives you a tension free life after 60. But if you want to take more benefit to your home then it would be better to have Medicare and Medicare supplementary both. It is because Medicare supplement plans are the supplementary health insurance policies that are needed to bridge the gap between the original Medicare policy coverage and the total medical bill payable. The Original Medicare always leaves behind some gaps and leaves the beneficiary to pay for it from their own pocket. And when the times come, no we do pray for the time never comes, but if the time comes then we will find that it is a big problem and you find it difficult to solve the problem. And that is it is always better to have Medicare supplementary plans or Medigap plans in which name it is better known. These two combined will solve your problem and you will get the maximum profit and benefits.
But you should always remember that you have to have a original Medicare policy before enrolling for a Medigap plan. It is mandatory that you have a Medicare original plan first and then have a Medicare supplementary plan. Medigap plan is not independent to original Medicare plan. It can not be sold independently. Even if you switch over to any other plan like Medicare Advantage plan from the original Medicare then also you shall not be able to use the benefits of the Medicare supplement plans. So you better first look at the terms and conditions and then go for a medigap policy. But if you have already a Medicare original plan then it is very easy to enroll for it without any trouble. So it is the primary eligibility criterion.
There are twelve standardized Medicare supplementary plans and these plans are sold and completely administered by the private insurance companies. The Medicare Supplement Plans had originally been standardized in 1992. And since then the Medicare Supplement Plans had primarily been the same. Since the year 1992 there had been the twelve standard Medicare Supplement Plans A through L. But now the situation is going to change and two new plans M and N are going to be introduced by June 1, 2010. It is to be remembered that though these policies are sold and administered completely by the private health insurance companies but still there are some basic rules that these companies are bound to follow. Each and every plan named after English alphabets offers different kind of benefits but all the private companies offering these medigap policies should set their policy according to one specific rule and that is as for example plan B should offer benefits that will match all the other companies medigap plan’s plan B and its core benefits. And that is its rule. But along with that it should also be remembered that the premium rates for these policies may vary from company to company.
If you have any insurance then it can not be said that the insurance will provide you all the spending or requirement that you would need at that time of your necessity. You simply can not say that. Here we will discuss about health insurance plans. Even best Medicare insurance plan can not assure you with that. Medigap Health Insurance Plans or Medicare health insurance plans are that type of insurance plans which can cover the gap between the Medicare health insurance and original spending at hospital and in buying medicines and doctor’s fees. Supplemental Medicare insurance plans are there only to help you to pay your excess medical bill that makes you worried. These types of bills are left aside by the main or principal medical bill. So to pay this bill you can use medigap insurance plans as your helping aid. As the name suggests, it is a supplement plan that is bought along with an original Medicare plan. In an original plan there always remains a gap and it cannot pay for the total bill charged. Therefore there is the need for a supplement plan to clear off your dues. Medicare supplemental plans are therefore very much needed if you want that you will not spend a penny from your pocket and will have the full coverage of your original Medicare health insurance plans.
Medicare policy coverage starts from the age of 65 of the insurance owner. Actually if you have purchased a Medicare policy then in normal state your Medicare coverage would start on the 1st day of the month you turn 65. So it means that if you reach the age of 65 on 20th of May your policy coverage would start on 1st of the same month. As we have said all the left aside costs by the original Medicare plans are paid by this medigap insurance plans. This pays the extra medical bill and cost of doctors not paid by the Medicare plans. And this is because they are not the part of your policy coverage. These costs are added in bill for the services that you receive. Therefore you need to pay for that extra money from your own pocket even if you are having an Original Medicare plan. As this supplemental plan makes the gap complete or bridge the gap therefore this is called medigap insurance plans. The name itself signifies its purpose. These are supplementary plans having close relationship with the Original Medicare plans. The supplemental Medicare insurance Plans are totally administered and sold by the private insurance companies and there are 12 standard Medigap plans that are to be sold by them. Though there are total 12 plans in this supplemental plan but the buzz is that there two more 2 plans which are likely to be introduced by the Medicare supplement insurance companies and those are plan M and plan N.
And among all these medigap companies medigap California is the one that is appropriate and best Medicare supplement plan available in the market.
You can understand from its very name medigap insurance plans that what does it signify. The very name signifies its main purpose to cover up the gaps between the original expenditure for your health purpose as for example bill of your hospital which includes some additional spending for special care and treatment. As it is known that the Medicare plans helps in paying the medical costs that you may need. According to the rules the Medicare policy coverage starts at the age of 65. Like any other insurance this Medicare health insurance policy fails to cover all the requirements and expenditure made by your treatment. And therefore you have to pay it from your own pocket. But if you have a supplemental Medicare insurance health plans then you are tension free as you know you will get all the cover ups for doing that. But have to have the original Medicare plan to have these extra benefits and to make Medicare supplement insurance. This only ensures the full cover up but does not exist alone, without the existence of original one. Therefore, you cannot purchase a Medigap plan independently; it should be purchased as a supplement to the Original Medicare plans.
You can have an Original Medicare plan and along with that you can also have a Medicare Supplement Insurance Plan. And both of them would pay their share of coverage. Medigap insurances are a kind of coinsurance, co payments, or deductibles. The 12 standard Medigap insurance plans are categorized under the letter covers A through L. And each of them has their own set of benefits and no matter from which company you may buy the Medigap health insurance plans you are going to get the same benefits. But it is to be remembered that the Medigap plans don’t work with any other type of health insurance policies save the Original Medicare pan. No other plans like the Medicare Advantage plan, Veterans Administration benefits or TRICARE could work with Supplemental Medicare Insurance Plans. Which means you can’t get enrolled for Medicare Supplement insurance if you are having these plans already. If you are having Medicare Advantage plan you need to switch over to Original Medicare plan in order to get enrolled for Medicare Supplement Plan.
There are lots many private companies who sell these Medigap insurance plans and these are known as Medicare Supplement Insurance Companies. They have to obey some basic rules and regulations and do not take any private or own change in the whole course of these plans. They are more or less fixed. There is Medicare Supplement Comparison. This will tell you which will be good to choose and which should be avoided. You can Compare Medicare Supplement Plans with the help a agent who holds a good knowledge about this things and then you can decide what you will book for your better and tension free retired life to stay fit and healthy. Medigap California is good and trust worthy name in this field. Medigap insurance California can be called Best Medicare Supplement Plan for its unique and unconditional serving to its customers.