21 August 2009
Seniors age 65 and over will need supplemental health insurance to pay for expenses not covered by Medicare. There are different types of health insurance coverages that provide a supplement to your Medicare coverage. Supplemental insurance pays for some or all of your health care costs that are not covered by Medicare.
These types of health insurance coverages include:
- Employee or Retiree Coverage
(from your employer or union)
- Medigap Insurance
(from a private company or group).
Medicare supplement insurance policies are sold by private insurance companies to pay for charges not fully paid by medicare. Wisconsin requires all medicare policies to provide basic coverage and 5 optional riders. They are Part A deductible, additional home health care, Part B excess charges, Part B deductible and foreign travel rider.
A type of Medigap policy that must meet all of the requirements that apply to a standard Medigap policy. You may be required to use doctors and hospitals within its network in order to be eligible for full benefits.
Managed Care Plans
A Managed Care plan involves a group of doctors, hospitals, and other health care providers who have agreed to provide care to Medicare beneficiaries in exchange for a fixed amount of money from Medicare every month. Wisconsin Managed Care plans include Health Maintenance Organizations (HMOs), HMOs with a Point of Service (POS) option, Provider Sponsored Organizations (PSOs), Preferred Provider Organizations (PPOs), and Cost Plans.