Medicare Supplement – Types of Plans
Medicare Supplement refers to different private health insurance policies sold commercially to supplement Medicare, a federal program for health care coverage that is paid through a payroll or federal insurance benefit. Many privately run health insurance companies offer Medicare Supplement insurance policies to help bridge the gap between what Medicare will provide and the insurance premiums required by the senior citizens. Medicare Supplement insurance is available to anyone over the age of 18 who has Medicare.
There are four types of Medicare Supplement policies. They are Parts A and B, which cover the hospitalization, medical supplies, and some medications; Parts D and E, which cover some prescriptions; and Part C, which provide coverage for preventive care. Each of these policies has its own rules for eligibility, enrollment, premium payment, and benefits. Medicare Supplement policies pay a portion of the hospitalization or other services you receive; Parts D and E do not; and Part C does not provide any prescription coverage. Most people are automatically enrolled in a Medicare Part A plan F, which covers their hospital expenses, if they are not covered under Medicare.
Although Medicare Advantage Plans is state-created insurance pools, most of them are offered by private insurance companies that do not participate in the government programs. Although there are government programs that provide coverage for certain individuals with Medicare, they are not part of the original Medicare program. Medicare Supplement plans are usually offered by independent organizations that do not participate in the government programs. In some cases, third-party organizations may represent two or more health care plans, and in other instances they may represent one plan but serve as a portal for several supplemental insurance companies.