Medicare supplemental plans come in various flavors. They are simply called Plan A, Plan B, etc. until you reach Plan N. At the time of this article, plans E, H, J and I are no longer available to new recipients.
If you do not think that you can afford the expense of the Medicare deductibles for Part A and Part B, or you think that paying the co-pays for your medical care will be a burden on you, then you need to look at Medicare Supplemental Insurance.
All of the plans offer coverage for Part A and Part B co-pays along with picking up the cost for hospice care and blood transfusions. Preventive care co-insurance is also covered. From there, the plans vary in coverage.
All but plans A, B, K and L provide foreign travel coverage and pay the skilled nursing co-insurance.
Plan C and plan F pay the Part B deductible.
Plan D and G pay for at home recovery
Plans K and L have out-of-pocket caps.
As you can see, there are many variations in coverage, depending on the plan. Even though the plans are standard, the amount an insurer chooses to charge is not standard. Each insurer can charge what they want. So, if you have multiple choices for a particular plan, you may very likely have multiple price offerings for the exact same coverage. Coverage costs also change from state to state and within the state depending upon where you live. This is due to the regional differences in the cost of health care.
Medicare supplemental insurance can be an important part of your healthcare plan. You have to weigh the extra cost of the premium against your anticipated medical expenses. Another thing of which you need to be aware is premium increases. There are different methods to increase premiums. Make sure that you can afford the premiums in the future.