The cost of medical treatment is on the rise, and your coverage may not be enough to allow you to easily cover those costs. With Medicare Supplements for 2018 you can add some extra coverage and make your medical expenses more affordable.
Who Are the Plans for?
Medicare supplement plans are for anyone who has Medicare or who is eligible for Medicare. Once you are signed up for a Medicare plan, then you can sign up for a Medicare Supplement Plan as well. You will never be denied the plan you want during Open Enrollment, so this is the best period to apply for a Supplement plan.
It should be noted that not everyone will need one of these plans. Basic Medicare may be all you need when it comes to medical insurance coverage. On the other hand, you may have trouble paying for all your medical care each month, and that’s exactly who these plans are for. You can pick and choose how much coverage you want by selecting from the 10 plans that are available. Each one covers a different set of supplementary expenses, so picking the right one is crucial.
If you feel like more coverage might be good for you, then at least look at the supplemental plans being offered. You may just find exactly what you need for a reasonable price.
How Much Will You Pay?
The price varies from plan to plan. The ones with the most coverage cost more, of course, so some of the plans are quite cheap. But the plans also vary by price depending on where you buy your plan from. Aetna and AARP have two different prices for the same supplemental plans. It’s up to you to find out whose is cheaper.
Bear in mind that the Medicare Supplements for 2018 offer the same coverage across the board. So, Plan N still gives you the same coverage no matter where you buy it from and how much it ends up costing you. That’s why it’s such a good idea to compare rates among the plans and providers. Find the one that saves you the most money while covering what you need to have covered.
Comparing the Plans
When someone pays too much for their supplemental coverage, it is invariably because they did not compare the coverage plans or the prices for those plans. We urge every Medicare subscribers, or those considering supplemental insurance, to compare Medicare Supplement Plans for 2018.
That way, they can save money, find the best plan for their needs and ensure that their medical care is affordable.
You can’t live without some of the medical care you have to pay for, and Medicare may leave you with lots of extra expenses to pay. So, you need to have a supplemental plan that fits you well and that saves you money when you do the math and compare its cost to the cost of paying for those medical expenses on your own. That’s what we want to help you do here.
Step One: Examine Your Needs
You can begin by looking at what kind of coverage you need. Assess your finances and how much you are paying each month and each year for medical care. If you feel like you are paying a lot for medical care, even after Medicare has provided its coverage, then you probably need some additional coverage. If you are having trouble affording your healthcare expenses, then it is definitely time to start looking at other coverage plans than just what you are using right now.
You want to have a real assessment of your financial and medical situation before you start looking at these supplemental plans. If you don’t know what you need, you won’t be able to get the most appropriate plan for your situation. As your needs change, be sure to come back and revisit this assessment and determine if you need a new plan to compensate for the changes in your life.
Step Two: Compare the Coverage of the Plans
Now, you can begin looking at the available supplemental plans. You may not need to examine each of them. If you have done an assessment of your coverage needs, then you probably already know whether you need a lot of coverage or just a little coverage. You only really need to look at the plans that offer similar coverage for your range- either high or low coverage. The majority of people will go with a high-coverage plan, not necessarily because they need all the coverage but because they like the assurance that high-coverage plans offer them.
The three high-coverage plans available are Plan F, Plan G and Plan N. With Plan F, you get coverage for every supplemental cost that it is possible to be covered for. That would be coverage for much of your hospital expenses, for nursing care coinsurance, for the larger deductibles and copayments, for excess charges, for foreign travel exchange and for some pints of blood. Some of these expenses are much larger than others, and it’s up to you to decide if you need them all covered. Most people don’t need all that coverage Plan F offers, but you can compare Medicare Supplements in 2018 to find out which one has what you need.
Plan G is a more conservative plan, offering almost the same coverage as Plan F, but cutting its price considerably and asking that you pay for the Medicare Part B deductible that Plan F pays for.
Plan N is even more reserved but still a high-coverage plan. It will cover everything listed above except for some small copayments, for the excess charges and for that same Part B deductible.
Step Three: Compare the Cost of the Plans
Maybe you need a high coverage plan or perhaps you have found a different plan than those mentioned above that you think will work well for you. You definitely want to take some time and look through what’s available and make sure you are picking the best plan. But once you have decided on a plan, you aren’t done with the comparison shopping. You should not just try to go out and buy that plan you have chosen from the first insurance company you find that’s selling it.
That’s because the different companies selling these supplemental plans have different prices for their plans. Buying Plan G from AARP isn’t going to cost the same as buying that same plan from Aetna or Mutual of Omaha. Each one has a different price, and those prices change every so often.
You can keep track of those price son our website. Here, you will find a great resource that lets you see multiple Medicare supplement a plan quotes at a glance. Just type in the name of the plan you want and the area in which you live, and we will find you several quotes from providers in that area.
It’s so quick and easy to use, and you can get results in moments. You will be able to compare prices among the different insurance companies and find out who has the best price without doing all the legwork of going from one website to another or contacting multiple insurance companies. It’s all there for you in one convenient place. And you can come back and check on those prices as often as you need to in order to find out if they have changed. That’s important if you are going to plan out ahead of time which supplement plan you want to buy.
Comparing the prices of these plans is critical. The coverage from one insurance company to the next doesn’t change. They may be charging different prices, but the coverage is under the oversight of Medicare itself. So, you should be trying to get the lowest price you can on the supplemental plan of your choice. You’ll be able to save money this way, and even a small savings can add up as you stay subscribed to the plan for months and years. You’ll be glad you took the time to compare Medicare Supplements for 2018 and find the best rates out there.
How Much Coverage Will You Receive?
Another thing to keep in mind is that the coverage might not be quite the same depending on what state you live in. While Medicare ensures that no matter who sells the plans they all offer the same coverage, there are some differences in what might be covered, depending on where you live. That’s because the different states have different ideas about what is considered medically necessary. Your plan might not cover as much as you think in certain situations.
In general, though, the plans will all cover the same items from one insurance company to the next. Now, the individual plans- A, B, C, F, G, N, etc.- all cover different levels of supplementary expenses. Plan F has the most coverage, taking care of all expenses labeled as supplementary.
Coming in next are plans G and N, respectively. The other plans don’t fit into the same category as these three, which is high coverage. If you need a lot of extra coverage or you have some major medical problems that need constant treatment, then one of these plans may be right for you. They are also ideal for people who just want peace of mind and who want to know they will be covered for most unexpected medical expenses.
The Medicare Supplements for 2018 have a lot to offer you, and it’s up to you to find out which one will work best for you.