Medicare Supplement Plan B
One of the ten Supplement plans, or Medigap plans, Medicare Supplement Plan B is another most basic plan to cover your out-of-pocket healthcare costs.
Availability of ten different Medicare supplement plans makes it difficult for the citizens to understand the implication of each with respect to their individual healthcare needs. What happens, as a result, is tens of hours spent in trying to understand these plans and consulting with relevant experts.
Everything about Medicare brings all the information about these plans at one place to make this decision easier for you.
What do Medicare Supplement Plans Cater?
Typically, Medicare Supplement Plans cover some or all of the following out-of-pocket costs on behalf of senior citizens:
- Medicare Part A and B coinsurance,
- Medicare Part A hospice care coinsurance,
- Medicare Part A and B deductible,
- Skilled nursing facility coinsurance,
- Medicare Part B excess charges, and
- Foreign travel emergency.
Which Coverage is Included in Medicare Supplement Plan B?
This plan is similar to the Medicare Supplement Plan A with the only addition of Part A deductible in covered costs. More precisely, this plan cover the following healthcare costs left after coverage of Medicare Original:
Medicare Part A Coinsurance and hospital care (365 days after Original Medicare benefits are exhausted),
Medicare Part B Coinsurance or copayment,
Part A hospice coinsurance, and
Part A deductible.
In short, the plan only gives basic coverage and those people who have huge medical care needs might experience excessive out-of-pocket expenses even after supplement plan B coverage.
Which Costs are Not Included in Medicare Supplement Plan B?
Medicare supplement plan B leaves various costs uncovered for the seniors to pay. And most probably these costs will quickly add up if you are a frequent user of medical services.
The costs which are not included in Medicare supplement plan B include:
- Skilled nursing facility care coinsurance,
- Part B deductible,
- Part B excess costs, and
- Foreign travel emergency.
What do these exclusions mean for your lifestyle? If you are going to use services of those health practitioners who add excess charges in their bills or if you plan to live a life of adventure and traveling after retirement, Medicare Supplement Plan B is not for you. This plan is only suitable if you are keen to compromise on quantity of hospital visits, have low-maintenance health conditions, and plan to live within the United States with minimal abroad trips.
Medicare Supplement Plan B is another basic supplement plan that helps seniors in reducing their healthcare costs. With a comparatively low premium, this plan offers coinsurances of Medicare Part A and Part B and skilled nursing care. Those individuals who want to keep their premiums down and lead a simple retirement life while increasing flexibility in their supplement plans would prefer this plan.