subject: Virginia Medicare Supplemental Insurance – Never Too Much of a Good Thing [print this page] Virginia Medicare Supplemental Insurance Never Too Much of a Good Thing
Health insurance isn't cheap. If you are already struggling finically, adding insurance into the mix seems crazy. It isn't as crazy as you might think. There are lots of governmental programs that can make health insurance affordable. One of these programs is Medicare. Medicare provides the elderly and those on disability with affordable insurance. Although Medicare provides coverage for health related expenses, Medicare parts A and B often leave gaps. These gaps in insurance cause people who use Medicare to either pay out of pocket or use private insurance to pay for missing coverage. One option Virginian residents have to remove the gaps is to use Virginia Medicare supplemental insurance. People on Medicare use supplemental insurance to help fill the gaps left by Medicare parts A and B. Medicare part A is for hospital coverage. It covers in-patient hospital care, some nursing staff, home health care, and hospice care. If you need blood Part A only partially covers it. Part B is medical coverage. It covers medical expenses, lab services and outpatient treatment. Part B only covers 80% of the approved costs which include doctor visits and medical supplies. When you use this type of supplemental insurance you do not have to worry about restrictive networks. This means you are able to choose what doctors, specialists, and hospitals you can use. You do not need to be pre approved to visit a doctor. The supplemental insurance also helps with deductibles, copayments and coinsurance.
There are 10 standardized Medicare supplement insurance plans. These plans are lettered A, B, C, D, F, G, K, L, M, and N. Plan A and B both offer the basics. Parts C through G all offer the basics as well. In addition, Parts C through G offer skilled nursing coinsurance and foreign travel emergency. Parts K and L fully cover hospitalization, some basic benefits, and some skilled nursing coinsurance. Parts M and N offer full basic coverage, skilled nursing co-insurance, and foreign emergency travel. In addition, each plan has different deductibles.
Virginia Medicare supplemental insurance plans are a great way to bridge the gaps in Medicare plans parts A and B. Although some of the language may be confusing, it is important you learn as much as you can about each plan. If you choose a supplemental plan that does not fit your needs then you are wasting time and money. If you have any trouble figuring it out, don't be afraid to ask for help.
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