Medicare Supplement Plan I - Covering the Bases Before it’s needed

Medicare Supplement Plan I provides a comprehensive option for dealing with the costs surrounding Medicare. Medicare helps protect the patient from paying for all of their doctor and hospital visits. However, with the copayments and coinsurance that the patient pays, as well as coverage limits, it doesn’t cover it all.

In fact, the patient can be left paying back thousands for an illness or injury that only took a short time to recover from. And, with a longer recovery time, the costs will only continue to pile up. Having supplemental insurance is vital to protect the patient and their retirement years.

What does Medicare Supplement Plan I cover? All Medigap policies cover some basics. They will cover the coinsurance costs that Part A requires the patient to deal with. They will also cover Part B’s coinsurance costs for doctor’s services, X-rays, and other lab tests.

And the basics will also cover the cost of the first three pints of blood. Plan I goes further to cover cost gaps. It will cover the $1068 deductible required for hospital visits by Part A. It provides a coinsurance to deal with the price of a skilled nursing facility.

Part B allows a doctor to charge their patient 15% of any costs that Medicare does not cover. Those excess charges are covered 100% by Plan I. Emergencies while traveling outside the United States has 80% coverage with this plan. And if you need at home recovery, Plan I will help cover the costs.

As of June 1, 2010, Medicare Supplement Plan I will no longer be open for new enrollment. This is due to some significant changes coming for all supplement plans. Plan I will still exist for those already enrolled. But, at home recovery coverage will be eliminated.

Hospice care will be added to this plan though. If this plan meets your needs, you should look at your options and plan before June of next year.