Medicare Supplement Plan A
Medicare Supplement plans are those insurance plans which protect the policyholders from the gaps in Medicare cost coverage. These plans are also called Medigap plans because they cover the gap in cost coverage offered by Medicare.
The government has defined 10 different Medicare plans. These plans differ on the basis of what is covered by them and insurance premiums.
One thing is crucial for the understanding of existing and potential policyholders that each alphabet represents a similar set of coinsurance, copay, and deductible coverage across insurance providers and states.
Medicare Supplement Plan A Benefits
So, Medicare Supplement Plan A gives a certain set of cost savings regardless of the organization from where you buy the plan. The only difference will be the credibility of the organization from where you purchased the plan, customer care services, and the premiums you pay to the organization.
Medicare Supplement Plan A is the most basic plan defined among all its peers. At the same time, it is mandatory for all the insurance providers who are covering Medicare Supplement Plans to include this plan in their product portfolio.
Because of its basic coverage, this plan makes a preferred choice for those policyholders who have scarce medical needs.
Plus, those policyholders who need flexibility in their expenses would also prefer Supplement Plan A.
What Does Medicare Supplement Plan A Cover?
This plan covers coinsurances which are left out by Medicare Original. It means that the policyholder will not have to worry about the costs of:
- Coinsurance on Medicare Part A or inpatient care, up to 365 days after Medicare hospital stay benefits are exhausted,
- Coinsurance on Medicare Part B,
- Medical procedures for the first 3 pints of blood, and
- Coinsurance for Medicare Part A hospice care.
It should be noted that all other Medicare Supplement Plans add other coverage on top of these basic costs of coinsurance.
What Medicare Supplement Plan A Doesn’t Cover?
This plan does not cover most of the costs associated with the medical care of the patients. Following are those costs which policyholders have to pay out of their pocket when they purchase Medicare Supplement Plan A:
- Medicare Part A and B deductibles,
- Coinsurance of skilled nursing care,
- Excess charges of Part B, and
- Foreign travel emergency.
This plan appears to be covering minimum Medicare-related costs. But, those individuals who have tight healthcare budget and believe that they have fewer health issues would go for this plan.
These minimum cost coverage come with lower premiums attached to this plan.
This plan is unsuitable for those individuals who have higher healthcare costs because they will end up paying excess charges in term of deductibles, copayments, and excess charges.
This plan is also unsuitable for those policyholders who plan to spend their retirement years traveling as it doesn’t give travel emergency insurance.