What is a Medicare Supplement Insurance Plan?
A Medical Supplement Plan or Medigap insurance helps cover the difference between one’s Original Medicare coverage and the extra expenses made by an individual. This includes deductibles, coinsurance and copayments. The supplement plans are offered by several private insurance companies in Delaware with varying benefits for covering some part of the fee and out-of-pocket expenses which are not covered by part A and B of Medicare.
More than one out of the 10 existing Medigap Insurance plans can be availed by the all the citizens of Delaware.
Why opt for a Medicare Supplement Insurance cover?
When one turns 65 and is enrolled in part B of Medicare, there is a six month window to choose and register for a Medicare Supplement Insurance plan. During these 6 months, the insurance company cannot decline to cover the individual. If one has some pre-existing condition, the insurance company can extend the waiting period to up to 6 months, during which the Original Medicare plan will be effective.
Depending on the Medigap plan one opts for in Delaware, one can be reimbursed for Part A and B deductibles of the Original Medicare. Some Medigap plans cover the 20 percent that Medicare leaves an individual to pay for doctor’s services and the doctor’s fee that exceeded Medicare’s set rate.
When can individuals under 65 enrol in Medicare Supplement Insurance?
If one has Medicare part B, one can participate in the open enrolment period for enrolling in the Medicare Supplemental Insurance. The open enrolment lasts for 6 months after part B coverage comes under effect. During this period, one has the state’s guarantee for buying a Medigap plan for the said individual, regardless of the health problem. In such a case, the application cannot be declined.
What to keep in mind:
Although the benefits offered by most Medigap Plans are same, the premiums vary. Hence, it is important to compare prices closely when purchasing a supplemental plan.