Don’t let Pennsylvania Medigap Insurance Be Confusing
Pennsylvania Medigap Insurance (Medicare Supplement insurance) can be confusing to seniors, but it shouldn’t be. It is important to have this insurance when you reach retirement age. At 65 years of age you can retire, and along with this comes Medicare eligibility. This is a great news for so many people. Medicare is a great deal and will help keep the cost of health care down in your retirement years.
Unfortunately, for most people it is not enough. Medicare pays for about 80 percent of your bills, and this leaves you with the rest. This can be a lot of money, depending upon how sick you get.
Medigap Insurance Can Pick Up A lot of The “GAPS”
Pennsylvania Medigap Insurance is designed to help pay part of the shortfall in Medicare coverage. In some cases, it will pay everything. It depends upon the plan you choose. After you sign up for Medicare, you then have six months to select a Pennsylvania Medigap plan that will serve as coinsurance with you Medicare plan, this six month window is called your Open Enrollment.
One prerequisite for this type of supplemental insurance is that you have both Part A and Part B of Medicare. In simplified terms, Part A is for inpatient care, such as found in hospitals. Part B is for outpatient care, such as a doctor’s visit. Most people choose to have both Part A and B. Only people who are still working may choose not to do this. If you are retired, you will want both parts and a Pennsylvania Medigap plan.
10 Medigap Plans to Choose From in Pennsylvania
In most states, including Pennsylvania, Medigap policies have been standardized. There are ten plans that you can choose from. All 10 plans come with basic coverage that pays much of the 20 percent of the cost that Medicare does not cover for both Parts A and Part B. It also covers the first three pints of blood that Medicare does not cover along with the extra expense of hospice care. If this is all you are looking for, it is called Plan A. The other nine plans are given the letter labels of B, C, D, F, G, K, L, M and N. These plans have the same basic coverage found in Plan A, but have various additional benefits.
The more benefits a Pennsylvania Medigap Insurance has, the higher the premiums are. If you are looking for the Medicare Supplemental insurance plan with the most benefits, in other words the greatest coverage, then look at Plan F. This Pennsylvania Medigap Insurance plan is a combination of all of the other plans. The downside is that is the most expensive.