Medicare Part D coverage has been around for some time and is one of the most popular Medicare supplements plans. You’ve probably seen commercials or advertisements for it or know someone who does. But, did you know that not every Medigap insurance plan works with all of the Medicare prescription drug plans? There are several different options in Medigap and it’s important to understand them before picking the right option for you.
For example, did you know that it’s important to check the exclusions in your Medigap plan to pick the right plan? An exclusion is a pre-existing condition which means any illness that you may have had is not covered. For example, diabetes, alcohol addiction, depression, obesity, or any other mental/physical ailment is not covered under most medical supplements plans. If your condition is covered, make sure you read all of the limitations of your Medicare supplement medication before purchasing them.
Another thing you should be aware of is that some of the newer Medicare Advantage Plans are not part of traditional Medicare. They are specifically designed for people who don’t have Medicare. So if you’re on Medicare, it could be years until you’re able to take advantage of the lower-cost medical plans, such as the Medicare Advantage Plans. For this reason, it’s important to weigh your options and find the best Medicare supplement for your current health care needs.
Most of the time, when you purchase a supplement plan, the company from which you’ve purchased it will contact your primary doctor to get your take on their product. This helps make sure you’re using a Medigap product that’s compatible with your current medications. However, it can also mean additional costs and extra steps. So be sure to ask your health insurance plan about their guidelines before taking any medical plans, especially if you’re switching to another company’s plan.
Finding the right Medicare Supplement plans for you can often seem overwhelming because of the sheer number of products on the market. Fortunately, several resources can help point you in the right direction. The Medicare Supplement Privacy & Security Act (SSSA) regulates the amount of information that healthcare providers like to collect about their customers.
According to the law, health care providers must give patients the right to request an annual written statement detailing what they’re currently paying for covered drugs, treatments, hospital admissions, surgeries, procedures, tests, imaging procedures, medications, and other covered services. You can also request these statements at any time during your coverage, which allows you to review your information and make changes if necessary.
The Medicare Supplement Protection Plan (SPPP) is another great source of information about the supplement plans from your doctor. According to the SSSA, most plans “receive an annual performance rating based on how well they meet the requirements of the Medicare program.” If you don’t know which supplements plan you’re currently on, you may want to start by getting the information from your doctor, then asking your healthcare provider about it.
Once you have this basic information, you can begin to research both on the internet and with your doctor to find out which one is best for you and your current situation. It’s important to note that all plans have different levels of coverage, so be sure to read the fine print to get the most out of your Medicare Supplement Protection Plan.