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HCR 230 CheckPoint Summarizing the Medigap Program

HCR 230 CheckPoint Summarizing the Medigap Program - plan...

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CheckPoint: Summarizing the Medigap Program There are many core benefits to participating in the Medigap insurance program. The program itself is considered as extra health insurance that a Medicare member can purchase from a private company in order to pay for any services that the original Medicare program does not cover. The Medigap insurance program helps patients pay for some of the Medicare co-payments, co-insurance for hospital stays and other services as well. The program meets coverage needs of its consumers very well. There are different plans that will suit everyone’s needs. Insurance companies set their own prices and regulations about eligibility, therefore making it imperative for Medicare members to shop around for the perfect plan. If the member is able to do this, they will be ensured that they are receiving the best benefits for their budget. A less expensive
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Unformatted text preview: plan might offer a consumer fewer benefits and higher out of pocket costs. However, a more expensive plan might have the extra added benefits for example, coverage for routine doctors visits/checkups, Medicare deductibles, at home recovery care, etc. There are many implications of having a private company associated with a government insurance company. When a consumer thinks of a government backed program in general, there are negative thoughts. In the past, any government backed program really has not helped the consumer but actually hurt the consumer i.e. credit cards, high interest rate loans and mortgages. So the largest implication is that the government is doing it for the money and not to actually help people in need....
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