What Is Medicare Supplemental Insurance?
Medicare Supplemental Insurance only works alongside Original Medicare. Original Medicare only covers 80% of costs which means that Medicare beneficiaries need to cover the rest 20%. That 20% of the cost beneficiaries pay in the form of deductibles and copays or coinsurance. With supplement plans, you can be covered for Part A and Part B deductibles and coinsurance, but what amount of coverage you are going to get depends on the plan letter you choose. In addition to that, those plans don’t provide extra benefits like dental, vision hearing, and drug prescriptions. You can’t purchase any supplemental plan if you have Medicare Advantage, because if you have Medicare Advantage it becomes your primary source of coverage instead of Original Medicare.
With Medicare Supplemental insurance all costs are predictable, benefits are the same regardless of carrier, policies are renewable as long as you pay monthly premiums, no network restrictions, and referrals to see specialists are not required.