What will be Medicare Supplemental Insurance?
- October 10, 2016
- Posted by: marlenedubois
- Category: Home Health Aide Training
For those who are enrolled inside the Medicare program the coverage may simply not be enough. of which will be why there are Medicare Supplemental Insurance or Medigap programs in place. If you are unsure of whether or not you need Medigap insurance for your Medicare program please read what will be contained below.
What will be Medicare
Medicare will be an entitlement program created by the federal government as its principal health care plan for seniors. To qualify for Medicare all you need to do will be reach the age of 65, become permanently disabled or have end stage renal disease. Medicare was originally created to help our elderly with the burden of paying for health care. Medicare will be not free however; recipients pay a monthly premium as well as portion of the cost of services they receive as a co-payment or deductible amount.
Medicare also does not cover certain needed services such as nursing homes in addition to in-home health care. To pay for services of which are not covered by Medicare most recipients turn to private insurance policies of which are called Medigap. What are the gaps in coverage?
Medicare Part A
There are actually quite a few gaps in Medicare coverage you should be aware of depending upon which Medicare program you are enrolled in. Medicare Part A coverage will be known as hospital coverage because the idea takes care of such things as inpatient hospital in addition to skilled nursing, home health in addition to hospice.
What Medicare currently does not cover however will be:
The hospital deductible: This particular will be the amount you must pay for your hospital stay before Medicare will cover the rest. The amount as of last year was over $1000.00
The hospital coinsurance coverage: Medicare covers your hospital stay in full, besides the deductible, for the first 60 days of your stay. However after the 60 days are up if you still need to be in hospital Medicare will no longer cover all of the charges nevertheless will charge you a daily coinsurance payment.
Hospital services: Once you have been in hospital for 150 Medicare will no longer bear any of the cost
Skilled Nursing facility: Medicare covers a skilled nursing facility stay for up to 20 days, if you need skilled care beyond of which you will need to pay a daily coinsurance amount
Skilled nursing facility services: If you need to be in a nursing home for more than 100 days, Medicare will not cover any of the expenses.
Home health aide services: While Medicare will defray some of the cost of occasional home health aide services the idea does not cover extended services.
Home health aide or nursing services: Medicare will not cover home health aide or home health nursing unless skilled care will be necessary.
Medicare Part B
Although Medicare Part B was created to be Medicare’s premier supplemental insurance the idea ended up becoming more of an outpatient in addition to preventative medicine type of coverage. The types of coverage Part B covers will be durable medical equipment, supplies the physician uses, prosthetic devices, in addition to ambulance services. Just like with Part A there are gaps inside the coverage here as well, although not as many.
Deductible: Medicare Part B features a flat yearly deductible of which must be met before any services are covered under Medicare. While minimal in cost the amount last year was $135 in addition to goes up each January 1.
Part B coinsurance coverage: While Medicare Part A covers 80% of the items of which Part B takes care of neither covers all in addition to there will be a 20% coinsurance payment you must cover.
Any person who will be eligible in addition to enrolled inside the Medicare program needs a Medigap or Medicare supplemental insurance to help defray the costs missed by Medicare Part A in addition to Part B.