How Medigap Plans Supplement your Medicare Insurance

A Medicare Supplement Insurance Plan can pay most or all of the gaps in both Medicare Part A Policies and Part B Medicare Plans. There are monthly premiums for Medicare Supplements, and several insurance companies offer various plans to choose from.

It is important to realize that all of the companies provide exactly the same coverage for their Plan letters; however, they are allowed to charge whatever they want for it. This means choosing the wrong company could end up costing you hundreds of dollars extra per year for exactly the same coverage!

Coverage Gaps in Part B Medicare Plans

Here are some of the gaps in your Part B Medicare Policy that Medigap helps to supplement:

• Part B Medicare has an annual deductible of $155 for 2010 (per calendar year)
• Medicare services under Part B Medicare are paid based on what is an approved "reasonable charge" for those services. A reasonable charge is a rate set by Medicare and could differ greatly from the "actual charge" by the physician. With Medicare only paying 80% of what they deem the reasonable charge, that leaves the beneficiary responsible for 20% of the "actual charge". These out-of-pocket expenses could add up very quickly.
• When a physician accepts "assignment" (the assigned rates from Medicare), he or she agrees to accept the Medicare approved amount as full payment. Medicare will pay 80% and the patient will pay the 20% co-payment.
• When a physician does not accept assignment, the patient must pay the co-payment plus a balance above the Medicare fee schedule amount. A physician may charge a maximum of only 115% of the Medicare fee schedule amount. This overcharge is what is termed "Excess Charges", and with your original Medicare plan, it becomes your responsibility!

Call 888-891-0229 and speak to a trained advisor at Medisupps.com today to make sure you get the very best coverage for the best rate that you qualify for.