Documentation and Constraints Involved With Medicare Supplement Plans

Like any other policy, even for Medicare supplement plans, you will have to present certain documents to Social Security Agency without which you will not be able to enjoy the benefit of the above-stated plan. You will be required to fill up Form SSA-1. You can do so either online or call the Social Security Office and make an appointment. You will be asked to provide documents for verification along with the form.

The documents which will be required include:-

  • Date of Birth certificate or any other proof of birth.
  • You need to provide the proof that you are a citizen of US or you a have a lawful alien status if the US is not your birthplace.
  • You also have to submit proof of wages from your employer or self-employment tax return.

These are the only few documents that need to be submitted to enjoy the benefit of Medicare supplement plans.

Constraints of Medigap

Medigap like any other initiative suffers from limitations. Such limitations refer to constraints in the coverage area. It does not cover all the diseases under the sun. For example, vision or dental care or even hearing aid does not come under the coverage area of Medigap. However, it may be noticed that these are problems which could be handled on a personal level. There is no need to rely on medical coverage to cover the regular marginal expenses on such problems.

Changing the Medigap policies

Most of the people want Medicare supplement plans with prescription drug coverage. However, all the plans do not cover this aspect of the expense. Therefore, if you want to change plan in order to get one covering prescription drug, you should do so very carefully. The reason is that you will be required to drop the existing Medigap policy before purchasing a new one. And this transition may cause you to pay late enrolment penalty.

You will be charged with the above-said penalty in the following two cases:-

  • If you drop your existing Medigap policy for Medicare Drug policy and the new policy did not provide creditable prescription drug coverage.
  • The new Medicare policy will not become active until sixty-three or more days past the date when you dropped your Medigap policy.

Medigap Plans for 2018 with prescription drug cover would definitely be beneficial for you in the long run. However, you must be aware of the rules and implications of changing from one Medigap policy to another because a wrong move can cost you more than you would benefit from such policies.