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MIDSOUTH HEALTHCARE |
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In nearly all cases, the decision to keep a group plan, or an individual policy to act as a medicare supplement is not a wise one. Why...... Because medicare normally becomes your primary coverage at age 65, any other coverage you may have is considered to be your supplement. (In certain isolated cases, group plans may remain primary, check with your plan administrator) Major Medical coverage was designed to cover people who are under age 65 as their primary coverage and was never intended to be "supplemental" coverage Trying to use a Major Medical policy as a supplement to medicare is like trying to fit a square peg into a round hole, it just doesn't fit well Medicare has not only one, but two, deductibles. The first deductible is currently $155.00 and must be met by you or your insurance before any type of care, in or out of the hospital, can be paid by medicare. This deductible is a calender year deductable (once per year only) Starting in 2005, this deductible will be increased every year from then on The other deductible is currently $1,100.00 and must be met by you or your insurance for each stay in any hospital, if you go to the hospital three times in a calendar year you must meet the deductible three times (unless returning to the hospital within 60 days for the same condition) Virtually all Major Medical policies have their own deductible that must be met before your policy can pay towards what medicare doesn't pay, in other words, you could be spending hundreds of dollars before anything gets paid towards your bills by either coverage. And even worse, after you have satisfied all deductibles and both plans are paying their fair part, your Major Medical will still only pay 80% of the 20% left unpaid by medicare, leaving you still owing 4% of the total bill ! Because of Major Medical's incompatability with medicare, medicare supplements were originated to "wrap around" medicare. All medicare supplements (except plan A) will pay either one, or both, deductibles, and will pay the full 20% left unpaid by medicare. Medicare supplements have no deductible of their own, and the better ones will pay both of medicare's deductibles and all of the remaining 20% leaving you owing nothing, every time ! The same situation exists even if you are allowed to keep your Major Medical as your primary coverage, and medicare as your supplement. You still have to meet your deductible on your Major Medical then meet medicares deductibles before medicare can pay 80% of the bills not paid by your Major Medical. FOR QUESTIONS OR A "FAST QUOTE", CLICK BELOW
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