Just as the name implies, the Medigap Medicare advantage planal insurance is advantage planal insurance for Medicare insurance. Medicare is a health insurance policy covered by the US government for people over 65 years and for people with conditions that qualify (amyotrophic lateral sclerosis and renal failure). The insurance protects against a variety of health care expenses, but leaves some gaps that the advantage planal Medigap Medicare insurance is formulated to insure.
The gaps in Medicare insurance stem from the fact that Medicare does not insure all medical services. Health expenses that Medicare does not pay include most hearing aids, dental care, most eyes, including eyeglasses, alternative surgery, cosmetic surgery, and experimental procedures and treatments.
Medigap insurance also helps insure the part of medical expenses that Medicare does not pay. These are deductibles, co insurance and reimbursements due to the fact that Medicare generally does not pay all insured medical costs and beneficiaries must pay the rest of the account. Normally, you can only expect Medicare to pay about 80 percent of your medical and hospital expenses.
Medigap advantage planal insurance is offered by private insurance firms that have the authority to sell these CMS policies (Centers for Medicare and Medicaid), a branch of the United States Department of Health and Human Services. CMS is responsible for the administration of Medicare. They also ensure that private insurance companies comply with their obligations under federal and state laws.
These private insurance companies can sell 10 advantage planal Medigap Medicare insurance policies. These policies are labeled with the letters A through N. The standardization of the policies is performed by CMS. Basically, all policies offer the same minimum benefits. Policy A offers the least amount of benefits and most benefits are offered by policy N. Standardization is done to ensure that different private insurance companies offer the same benefits in each policy. The cost (premiums) of the policies they offer is the only difference between the different insurance firms.
Private insurance companies that sell Medigap Medicare advantage planal insurance policies do not need to provide all the 10 policies. However, they are required to offer a minimum of Policy A. They are also required to offer Policy C or F, together with Policy A, that is, if they choose to offer more than one Medigap policy at the same time.
The Medigap open enrollment period is the best time to enroll in the Medigap Medicare advantage planal insurance policy program. The reason is because the federal law that is binding on private insurance companies requires them to sell to you any policy you want, even if you have a pre-existing medical condition. However, the requirement is that you must be registered for Medicare Part A and Part B policy.
When you buy a Medicare Medigap advantageplanal insurance policy, do not consider that the cost of Medigap will not bethe same for all companies. Therefore, it is good to look around because eachpolicy has identical insurance features regardless of which insurance companysells them to you.