What is Medicare Select?
There seems to be a lot of confusion about Medicare Select, and a lot of misinformation online. Select plans can offer significant savings in premium while providing almost the same amount of coverage as a standard Medicare Supplement. There are a few limitations, but it could be worth it. Let’s take a minute and set the record straight.
Medicare Select is not a Medicare Advantage plan.
The only thing they have in common is they both use a hospital network. Other than that, Medicare Select is like any other Medicare Supplement.
Medicare Select has the same standardized B through N plans.
Medigap Plan A cannot be offered as a Select Plan because it doesn’t cover the Part A Deductible. I’ll explain, all the hospitals in a Medicare Select Network agree not to charge the insurance company the Part A deductible on any Select Plan members. In 2016, the Part A Deductible is $1,288 per benefit period. That’s a big saving!
Because the insurance company is not charged for the Part A Deductible they can pass those savings onto you.
In exchange, if you receive inpatient hospital, outpatient hospital, or ambulatory surgery center services, it must be at a network hospital or facility. The only exceptions are emergency services when your are out of the service area, or if you require services not available within the network.
Medicare Select has no effect on your Original Medicare Part B benefits.
You can still see any doctor you choose; however, when you need inpatient or outpatient services, your physician must have the ability to admit to a network facility.
Summary
Medicare Select Plans work like any other standardized plans except when receiving Part A (hospital) benefits you will need to use the Select Network.
Our standard Medicare Supplement comparisons do not show Select rates. If you are interested in a Medicare Select Plan, please give us a call. We’ll be happy to give you a quote and discuss network coverage in your area.
