If you’re looking for a Medicare Supplement Plan, you’ve come to the right place. A Medicare Supplement Plan is a type of insurance that supplements Medicare and pays for medical costs that are not covered by Medicare. There are three types of plans: Original Medicare, Medigap, and Stand-Alone Plans.
The original plan was created by the government in 1965. This plan covers all health care costs such as hospitalization, doctor visits, physical therapy, home care, and prescription drugs.
Medigap plans were introduced in 1997 after the government discovered that people with certain chronic conditions were being denied coverage for certain services due to their pre-existing conditions.
Finally, stand-alone plans were created in 2002 and are only available if you do not receive benefits from either Original Medicare supplement plans or Medigap insurance policies. This article will walk you through everything you need to know about these three types of plans and what they can do for you!
The Original Medicare Plan
The original plan is a government-sponsored insurance plan which covers health care costs such as hospitalization, doctor visits, and other medical expenses. The only exception to this is that it does not cover prescription drugs. The main benefit of the original plan over other plans is that it helps reduce out-of-pocket costs for patients with Medicare.
Stand-Alone Plans
Stand-alone plans are available to people who don’t receive benefits from Original or Medigap policies. They are a great option for people who need insurance but do not have Medicare.
You can purchase this type of plan when you’re between 65 and 70 years old. This plan will cover all your health care costs including hospitalization, doctor visits, physical therapy, home care, and prescription drugs.
The premiums for this type of plan vary depending on where you reside and what the individual plan covers. It also differs in terms of how much coverage it offers and how many doctors it has covered by its provider network.
Creating A Plan That Meets Your Needs
If you’re looking for a Medicare Supplement Insurance Plan, you should start with the 3 types of plans we’ve already mentioned. These are the Original Medicare, Medigap, and Stand-Alone Plans. If you want to find out more about these plans and what they cover, please read our guide on the different types of plans:
- Original Medicare
- Medigap
- Stand-Alone
Original Medicare – This plan was created by the government in 1965 and is available to seniors who are enrolled in traditional Medicare through their state’s health insurance exchange or through the Social Security Administration (SSA). It covers all health care costs such as hospitalization, doctor visits, physical therapy, home care, and prescription drugs.
Medigap – This plan was created in 1997 after the government noticed that people with certain chronic conditions were being denied coverage for certain services due to their pre-existing conditions like diabetes or high blood pressure.
These insurance policies are available through your state’s health insurance exchange or through the SSA and cover anything that Original does not cover such as outpatient medical expenses not covered by Original Medicare.
