You have just turned 65 and signed up for Medicare or you already have Medicare and all your health care expenses are taken care of right? WRONG! Original Medicare has gaps in the coverage, thus the term "Medigap" which is used to refer to senior health plans. Medicare has deductibles, coinsurances and a set amount of lifetime reserve days. There are two different types of senior plans. One is a Medicare Supplement plan. These plans are standardized by the Federal Government. The other senior plan is called a Medicare Advantage Plan. In this article I will discuss the senior health plans called Arkansas Medicare Supplement Plans, Med Sups, or Medigap plans. They all refer to the same type of Medicare plans.
Just for fun let's add up all the deductibles or gaps in your Medicare policy. Part B has a deductible of $155.00. Part A for, for 2011, has a hospital deductible of $1100.00 for each 60 day hospital stay. It is possible to have almost six 60 day periods per year. There is also a skilled nursing facility deductible that must be met. Just those gaps alone come to $50,397 annually!
That figure does not reflect the 20% coinsurance for Part B that you would owe your doctor. So, you can see that without some type of senior plan your gold just got taken out of your golden years. Medicare plans also come in 11 different varieties. Not all plans are available in all areas. There is variety between the plans which enables almost every member to invest in a senior health plan, regardless of budget. So, how to figure which senior plan is the right one for you? Take a good look at your budget.
Once you figure out what would be affordable, the services of a licensed agent would probably be a great benefit in helping you to select the best senior health plan for you.
Do you want to find quotes on a high deductible health plan, senior health plan or an individual family plan? Click here: Health Insurance Premiums
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