Underwriting is the process assessing risk of issuing insurance. Undewriters evaluate applications,
Medicare Supplement Plan B Coverage
Medicare Supplement Plan B covers:
- Medicare Part A coinsurance and hospital costs
- Medicare Part B coinsurance or copayment
- Blood (first 3 pints)
- Part A hospice care coinsurance or copayment
- Medicare Part A deductible
What Medigap Plan B Does NOT Cover
Medicare Supplement Plan B does not cover:
- Skilled nursing facility care coinsurance
- Medicare Part B deductible
- Medicare Part B excess charges
- Foreign travel emergency (up to plan limits)
Medicare Supplement Plan B Standardization
The price of Plan B depends on your current health conditions, age, gender, and which company you purchase your Medicare supplement insurance with. Availability may differ by location and company, but Medigap Plan B benefits are the same regardless of which company you buy from.
Medicare supplement plans have been completely standardized since 1991, and every supplement Plan B will be identical in the following ways:
- Same Benefits – Medicare Supplement Plan B will have the same coverage listed above, regardless of the company you buy your supplement from. So, you don’t have to worry about whether one company’s Plan B is going to have more or less benefits than another company. It doesn’t matter which company you buy your plan from, the Plan B benefits will be completely identical.
- Same Doctor’s Network – Medicare supplement insurance companies do not have their own doctor’s networks. Their plans are only supplements to your primary Medicare Parts A & B coverage. Your network is the nationwide Medicare network. In fact, 93% of primary care physicians still accept Medicare. So, you don’t have to worry about whether one company has a better doctor’s network than another. They will all share the same network – the Medicare network of doctors.
- Same Claims-Paying Process – Medicare supplement claims-processing is highly automated these days, which makes it easy for you to use the coverage. When you receive your medical services from your physician, they will only submit your claim to Medicare and not to your Medicare supplement insurance company. Medicare uses a clearinghouse that knows which Medicare supplement plan and company you use. Once Medicare approves your claim, they will pay the physician their portion and will notify your Medicare supplement company, through the clearinghouse, of the amount due to the physician from your Medicare supplement insurance company. The Medicare supplement company cannot decide they don’t want to, or shouldn’t have to, pay their portion of the claim. They have no choice. They must pay the amount due per Medicare’s instructions. This is automated and completely standardized from company to company. So, you don’t have to worry about whether one company is better at paying for claims than another. Due to the automation and standardization in this area, they’re all equal in their claims-paying history.
Knowing about the areas of standardization above makes it extremely easy to consider rates for Medicare supplement Plan B from any company. So, it really comes down to who is going to offer the best rate from a company you can trust for your Plan B.
GoMedigap Can Help
GoMedigap agents are very well-versed at helping you make these decisions. The service from our highly-regarded agents won’t cost you anything, and we’re confident you’ll enjoy the conversation.
If you would like to discuss your Medicare supplement Plan B options, or options from any other plan, please complete the online form to compare Medicare supplement rates, or call us directly at (800) 310-2550 during normal business hours.