As we get older, the chance of our health deteriorating increases. We may require more frequent doctor visits, but Original Medicare only pays for 80 percent of the cost of doctor appointments. That remaining 20 percent may be manageable while your health is good, but what happens if you need regular doctor visits to monitor an ongoing problem?
Medigap or Medicare Supplement Insurance can pay for that remaining 20 percent of your doctor bills and protect you from other out-of-pocket costs. A Medigap Plan can also reimburse you for the Part B deductible on doctor services.
If you need to see a specialist who charges above Medicare’s predetermined rate of payment, some of the Medigap Plans, such as Medigap Plan F, can pay for what are known as excess Part B charges. That’s just a fancy way of saying they will cover doctor charges that exceed Medicare’s standard payment.
Medigap Insurance offers 10 different plans where you can pick which benefits you expect to need and select from different percentages of coverage. If you still have questions about how Medigap Plans work, we are here to answer your questions. Just give us a call to arrange for a professional consultation at no charge.
Jim McFadden has over 11 years of executive-level experience in the health insurance industry, is a youth baseball, softball and football coach, and has one of the worst fantasy football records in the world.