QUESTION: I was wondering what are people over 65 doing regarding picking plans to supplement Medicare and Medicaid. Can anyone suggest some plans that are good to fill in the gaps? What needs to be purchased to supplement Medicare and Medicaid? Thank you!
ANSWER: Medicaid coverage is quite comprehensive, and beneficiaries do not purchase additional policies to supplement it. Also, since Medicaid is intended for the poor, very few beneficiaries could afford it, anyway. If you are over age 65 and covered by both Medicare and Medicaid, you have one of the best insurance arrangements around. All Medicare eligible services are covered with no, or very small, copayments and deductibles.
If you are enrolled in Medicare but are not eligible for Medicaid, the ACA makes no changes to the way youpurchase a supplement policy. You have the option of either a Medigappolicy or a Medicare Advantage Plan (but not both at the same time). Medigap policies help pay for Medicare’s coinsurance and deductibles and often for some additional benefits, such as emergencies during foreign travel. However, if you want coverage for prescription drugs, you have to purchase it separately.