Medicare SELECT Overview
By Nancy DellaVecchia
While most Medicare supplemental insurance plans cover expenses from any medical provider that accepts Medicare, Medicare SELECT supplements are a type of managed care plan. Medicare SELECT plans have contracts with doctors, hospitals and other service providers, and members of the SELECT plan are required to use the plan's medical providers in order to receive Medigap coverage.
The concept is much like a healthcare management organization, or HMO. Using a doctor outside the plan's network will not have any impact on Medicare benefits, but the plan may not pay for charges that are not covered by Medicare. When members use providers within the network, the Medicare SELECT plan will usually cover any charges above the Medicare approved payment.
Medicare SELECT is a new concept in Medicare supplement insurance, although managed care plans have long been a staple in other areas of the health insurance market. Under Medicare regulations, SELECT plans must conform to the standardized requirements of all Medigap plans, letters A through N, whose coverage rules are determined by the letter of the plan.
The managed care concept has helped control medical costs for group health insurers and it is hoped that it will result in lower plan premiums for Medigap beneficiaries.
Seniors who have opted for a Medicare Advantage plan are not eligible for Medicare supplement insurance, or Medigap. Medigap is only available to those who have traditional Medicare benefits. To find out if Medicare SELECT is available in your area, contact one of our trained specialists today.
Medigap is supplemental insurance that covers many expenses not paid by Medicare, including deductibles and co-payments. Medigap policies are regulated by the federal Medicare program and are required to offer certain benefits.
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