Medicare Supplement policies (or Medigap) are standardized plans designed to address and cover the gaps left by Original Medicare. In other words, Medigap comes in where Original Medicare stops, covering healthcare costs that would otherwise come out of your pocket.

As mandated by the federal government, all Medigap plans offer some core benefits. So, regardless of which Medigap plan you pick, you will receive a certain level of coverage. These core benefits protect you against unexpected medical expenses, giving you peace of mind and substantial financial protection.

Are you interested in learning more about the core benefits that come with your Medicare Supplement plan? This Medicare Supplement agency in St. John, Indiana is going to explain below.

The core benefits included in every Medicare Supplement plan

Every Medicare Supplement plan you can enroll in through a Medicare Supplement agency in St. John, Indiana must offer four core benefits. These are intended to protect Medicare enrollees from facing high healthcare bills they would have to pay from their own pockets. These core benefits include:

Medicare Part A Coinsurance: This benefit covers the coinsurance costs for inpatient hospital stays. Hospital costs can quickly add up. Medigap plans cover these coinsurance costs, so you don’t have to pay extra for the first 60 days of a hospital stay. Medigap continues to cover you for more extended stays, but you must pay a daily coinsurance for those extra days.

Part A hospice care coinsurance: This benefit covers the coinsurance for hospice care, which is care provided during the final phase of terminal illness. It ensures that you or your loved ones don’t have to worry about rising medical costs during these challenging times. Medigap covers most of the hospice care costs, reducing or eliminating what you need to pay out of your pocket for these essential services.

Medicare Part B coinsurance: This covers the coinsurance for medical services under Part B, which includes doctor visits and outpatient care. Generally, you are responsible for paying 20% of the costs that Medicare approves for these services. Medigap plans cover this expense, making getting the medical care you need easier and more affordable.

First three pints of blood: This might sound very specific, but if you ever need a blood transfusion, the cost of the first three pints each year can add up. This benefit ensures you are covered for this, which can be extremely valuable in medical treatments requiring a blood transfusion.

While all Medigap plans offered by a Medicare Supplement agency in St. John, Indiana cover these core benefits, some plans offer more. For example, Plan G includes coverage for foreign travel emergencies, Part A deductibles, Part B excess charges, and skilled nursing facility care coinsurance. Plan F also covers all the possible gaps, making it the most comprehensive option available. However, it is only available to those who were eligible for Medicare before 2020.

Having these additional benefits can give you peace of mind, as you know you are covered for almost any medical situation that could come up. However, it is vital to consider whether you need these extra benefits and if they are worth the monthly premium you will pay.

What is not covered by Medicare Supplement policies?

While Medigap policies cover a lot, they do not cover prescription drug costs, long-term care (like living in a nursing home), vision care (including eyeglasses), hearing aids, or dental care. You’ll need to consider separate insurance plans if you need coverage for these services. For prescription drugs, you can join a Medicare Prescription Drug Plan (Part D). And for vision, dental, and hearing, you can find standalone insurance plans that cover these services.

Knowing what Medigap does not cover helps you plan better for your healthcare needs and ensures you are not caught off guard by unexpected expenses.

Looking for a Medicare Supplement Agency in St. John, Indiana?

Are you ready to find the right Medicare Supplement plan for your needs? If so, and if you were looking for the best Medicare supplement agency in St. John, Indiana, look no further than the team at Senior Care Insurance Services (SCIS). Our expert agents will help you find the best coverage for your needs so that you don’t have to worry about unforeseen medical costs. Contact us today to get started.