When you reach the age where you are eligible for Medicare, you find yourself faced with a myriad of options and decisions to make for yourself and your health care coverage. While most people think that Medicare is a simple program that everybody is just automatically enrolled in when then reach the age of 65, this is not necessarily the case. And until it becomes an issue, most people do not know what a Medicare supplement plan is or how to know if they need one or not. Get to know more about Medicare and Medicare supplement plans so that you can figure out if you would benefit from such a plan when you are eligible for medicare benefits.

What Is Standard Medicare?

Standard Medicare benefits that are offered as a government program when a person reaches the age of 65 consist of two parts, parts A and B. Medicare part A covers hospital care, while Medicare part B covers medical care and expenses.

Medicare part A covers hospital visits and stays as well as skilled nursing or nursing home care and the like. On the other hand, part B covers your preventive and other visits to your primary care physician and other doctors, mental health care, and things like durable medical equipment like crutches, canes, and wheelchairs.

What Are Your Costs With Standard Medicare?

When you are on standard Medicare, you will still have to pay for some services. Medicare parts A and B have copays, coinsurance, and deductibles when a person with such plans seeks medical care.

In addition to these costs, Medicare parts A and B may have monthly premiums. There are some cases in which Medicare part A does not have any premiums, such as when a person is over 65 and collecting social security benefits.

However, Medicare part B does have a monthly premium. The monthly premium for Medicare part B depends on your income as you list it on your tax return.

What Can A Medicare Supplement Plan Do For You?

A Medicare supplement plan, also commonly referred to as a Medigap plan, is an optional plan that helps to cover additional costs that standard Medicare does not cover. If you choose to purchase a Medicare supplement plan, you will be doing so from a private insurance company rather than the government.

By choosing such a plan, you can get coverage to help you pay your deductibles, copay, and coinsurance that you would have to pay out-of-pocket with a standard Medicare plan. However, depending on the plan you choose, you may get extra coverage on top of that.

Medigap plans are good for people who know that they are going to need medical care or who have a chronic condition that could require hospital care and/or surgery. In these situations, Medicare supplement plans can save you a great deal of money.

Now that you know more about standard Medicare and Medicare supplement plans, you can better decide whether or not a supplemental plan is the right choice for you. Contact a service like Senior Care Insurance Services for more details.