Medicare/Medicare SELECT

What is Medicare SELECT?

Medicare SELECT is a type of supplemental insurance policy that helps you cover the gaps in healthcare costs left by Original Medicare. Medicare SELECT differs from other Medigap policies in that it is a managed care plan, which requires you to use pre-selected hospitals and doctors to be eligible for full insurance benefits.

What is the Advantage of Medicare SELECT?

Medicare SELECT can be any of the available Medigap plans A-N, and is less expensive than the regular supplement insurance plans. By using a specific network of healthcare providers, insurance companies can negotiate prices with the network to keep costs down. Thus, Medicare SELECT can be a great way to affordably cover the financial costs Original Medicare does not.

What is the Disadvantage of Medicare SELECT?

The main caveat to Medicare SELECT's affordability is that you have to use an approved Medicare SELECT hospital or doctor. If you use a hospital of doctor outside the network, you will have to pay some or all of what Original Medicare does not cover. This excludes emergency expenses. So, while Medicare SELECT offer the same coverage for less, it gives fewer options for receiving care.

Considerations when Choosing Medicare SELECT

Since Medicare SELECT requires you to use only certain hospitals, your current physician may not be eligible. If you are uncomfortable with the idea of changing your primary care physician ,find out if your current doctor is part of a Medicare SELECT network.