If you have needed health care services in the past time, you might have had to find out the hard way that your Medicare original part A and part B won´t cover for all expenses. In fact, in most cases you will be left paying some type of a coinsurance amount, copayment or deductible. Especially if you are planning on travelling further than 6 hours from US coast, it will not insure you and you will need to pay for the full amount of the health care services you might need. If so, the time has come to discover the Medicare supplement plan M and how you can benefit of it!
It covers for several expenses
The 2019 Medicare supplement plan will cover for the expenses you would otherwise need to pay for out of your own pocket. In these expenses, the following are included:
- Expenses for the first three pints of blood (Medicare original cover for any pints of blood required after that)
- Expenses for skilled nursing facility coinsurance
- Expenses for part A hospice care coinsurance and copayment
- Expenses for Medicare part B coinsurance and copayment
- Expenses for Medicare coinsurance and hospital costs of Medicare part A
- Expenses of the Medicare part A deductibles are covered up to 50%
The Medicare part A deductible which is covered up to 50% is an amount that the patient would need to pay each time they get attended to a hospital within a year.
What it doesn´t cover
There are two expenses, that aren´t covered by the Medicare supplement plan. There are plans out there who cover for these as well and if you find them to be important, you can look at other plans such as the supplement plan F. The Medicare supplement plan M will not cover for the Medicare part B deductible, which is currently 183$ a year. It also won´t cover for any excess charges of Medicare part B.
When choosing this plan, you should always compare the premium rate of different health insurance companies. Especially if you are not enrolling within the initial enrollment period, some companies might look at your current health state and previous conditions. Based upon these, your premium rate might be higher or lower. The initial enrollment period is a period of time, in which the health insurance companies aren´t allowed to look at your medical record for the purpose of basing your premium rate cost on this information. During this time, the health insurance company isn´t allowed to deny you from enrolling to the Medicare supplement plan M, which is why this is considered to be the best period to enroll.
All in all, it is a supplement plan that offers many benefits you can take advantage from. Once you know which expenses are covered, you will be able to go to the doctor´s office and require for the health care services you feel to be necessary, without having to worry about paying for the expenses out of your own pocket.