Medicare supplement plans are known for helping you minimize your out-of-pocket expenses for health care. To those who don´t like financial surprises, Medicare supplement plans serve well, as they cover for what´s not being covered by Medicare part A or B. It is better to pay for a premium rate of a supplement plan and always know how much you will need to pay. They give you the freedom of getting the health care you need, whenever you need it. Otherwise, you will be left with either not being able to visit a health care provider due to the financial costs, or in cases of emergency, you will have to visit a health care provider and will be left with a huge bill to pay on your own. Paying a monthly premium rate is sort of like splitting this big bill into bits and pieces, making it easier for you all-round.
There are so many benefits that Medicare supplement plans cover, that it can sometimes get confusing. Which Medicare supplement plan covers for which expense? Do I really need a plan to cover for those expenses? Medicare part A or B deductibles, coinsurances, excess charges and so much more. One question that many also wonder is when it comes to prescription medication, will my supplement plan cover for it too?
The Best 2019 Medicare supplement plan that covers for all possible expenses out there, is the Medicare supplement plan F. and not even this one will cover for expenses of prescription drugs. No supplement plan will. Instead, your option is to enroll into a Medicare part D!
The rate for Medicare part D is often also paid monthly. Medicare part D are also offered by private health insurance companies, but only those, who have been approved by Medicare. As these health insurance companies are private, the premium rate that you will need to pay will vary from company to company. It is therefore a smart move if you compare the price before choosing enrollment to one particular company.
In 2018, the deductible of Medicare part D was as much as 405$. After you´ve paid for prescription drugs up to 405$, the part D Medicare will start covering for the rest of the expenses until the end of the year. Keep in mind, that part D Medicare is also available with a deductible of a smaller amount. It all depends on the company you choose to enroll to. Some health insurance companies offer the part D and start covering for all expenses immediately, with a deductible of 0$.
The best solution for those who have high expenses due to necessary prescribed drugs is to enroll to Medicare part D. When it comes to health insurance companies, keep in mind that monthly premiums are often cheaper! If you choose to pay annually, you might end up having to pay more. This is because the health insurance companies prefer members who pay their expenses month by month.