Medicare supplement plans are different from one another, yet have similarities. To anyone who is choosing a supplement plan for the first time, it can get confusing pretty quick. The end goal is to choose a supplement plan, that will save you money on the long run. Especially as we age, we will need more and more health care services and the expenses, without a supplement plan, can rise up quickly. A good way of controlling these expenses, is enrolling to a supplement plan. These plans cover for what Medicare original Part A or B don´t. However, how much additional coverage do you really need? Supplement plans vary in price and the more they cover, the more they cost. You also don´t want to get the most expensive one and find out, that what it´s covering is something you´re not really taking any advantage of. If you´re considering enrollment to Medicare supplement plan B, here is what you need to know:
What Medicare supplement plan B covers
- Expenses for the first three pints of blood (additional pints of blood get covered by Medicare original)
- Expenses for the Medicare Part A deductibles
- Expenses for the Part A Hospice Care copayments and coinsurance
- Expenses for Medicare Part A coinsurance, as well as hospital costs
- Expenses for Medicare Part B coinsurance and copayments
The Medicare supplement plan B covers almost the same, as the supplement plan A does. The additional coverage of plan B includes the Medicare Part A deductibles for hospice care. Currently, these deductibles lay at 1,316$. They tend to increase every year, although slightly. When on supplement plan B, even when this deductible cost increases, you won´t be affected by it, as your Medicare plan will cover for it anyway. This is an amount that is not paid yearly; it is requested by patients after every incident. If you end up needing to stay in the hospital a few times a year, you would need to pay this deductible each time.
Plan B is not Part B
Many get confused by the Medicare original part B and assume that the supplement plan B is one the same. It isn´t. The Medicare original part B can be purchased directly from Social Security. It covers for some outpatient medical expenses. The plan B is a supplement plan you would get, in this case, in addition to part B. It cannot be purchased directly from Social Security, but is offered by private health insurance companies. These companies are obliged to provide the same benefit for plan B anywhere in the US. This means, that if you live in, for example, Colorado, the benefits of your plan B will be the same as for a citizen of Iowa. Only three states of the US do not offer similar benefits and have their own standardization of supplement plans: Massachusetts, Minnesota and Wisconsin. If you are a citizen of these states, this Medicare supplement plan B won´t be available in the described form.