4 Things You Should Know Before Choosing Your Medicare Supplement Plan

Medicare is a federal program providing primary health insurance for many people over the age of 65. It is also the main health insurance for some younger individuals who have disabilities. In addition, it is also available for those who are diagnosed with End-Stage Renal Disease, commonly known as ESRD.

Medicare is comprised of a few different portions, each with its own domain. These sections include:

  • Medicare Part A- Insurance covering hospital stays
  • Medicare Part B- General medical insurance
  • Medicare Part C- Medicare Advantage Plans
  • Medicare Part D- Insurance covering prescription drugs

Although a great deal is covered, there are still things that are not covered, which is why many people opt to purchase a supplemental plan in order to control costs. One such supplemental plan is Medicare Supplemental Plan G. This supplemental program helps to cover a number of costs that would otherwise be the patient’s responsibility.

These are some things to keep in mind as a plan is chosen.

  • All Medicare supplement plans have been completely standardized since 1991.
  • The only things that change from one Plan G to another Plan G, are the different insurance companies offering plans. Meaning, the benefits offered in one plan versus another should be exactly the same.
  • Medicare supplemental plans are exactly that, they supplement the Medicare Part A and Medicare Part B. So, any doctors being seen in the Medicare Part A and B networks are the same in the supplemental plan. Therefore, you do not need to worry if one plan has more or less doctors than another. Every supplemental Plan G uses the same network of physicians, the Medicare network.
  • Medicare receives the claims from your physicians, then sends it your supplemental plan provider. The supplemental plan provider does not choose which claims to pay. Rather, the plan provider is obligated to pay the claim as per its agreement with Medicare. This is all automatic.

Knowing all these things here will be helpful when choosing a plan. There are many options out there, do not be overwhelmed. At the end of the day, just remember to choose a plan from a provider you trust, at a price you can afford.