Improve Your Medicare Coverage with a Medicare Supplemental Insurance Plan

Medicare covers the basic healthcare needs of seniors in America.  However, a Medicare supplemental insurance plan can be purchased as additional protection to avoid financial ruin if you should become injured or sick.  Medicare supplemental insurance plans are also known as Medigap.

Supplemental insurance plans provide additional coverage that pays costs that Medicare doesn’t.

These costs may include copayments, coinsurance, and deductibles. It may also cover insurance for travel outside of the USA. If you wish to enroll in a Medicare supplemental insurance plan it’s important to know that you are obtaining insurance coverage from a private company.

Enrollees are often curious as to how Medigap insurance works when they are already enrolled in Original Medicare. Medicare will first pay its share of the Medicare-approved amount of your healthcare costs and then whatever it not covered, depending on the supplemental plan you choose, a portion or all will be paid by your Medigap policy.

It’s important to know that your Medigap policy is different from the Medicare Advantage Plan. The MAP provides Medicare benefits, while Medigap basically supplements your original Medicare benefits. If you wish to improve your Medicare coverage and enroll in a Medicare supplemental insurance plan, you must first have Medicare Part A and Medicare Part B.

But if you have the Medicare Advantage Plan you will not be able to get Medigap. However, you can choose to leave the Medicare Advantage Plan and then enroll in Medigap, but you must do it before your Medigap policy starts. You will not qualify for a Medigap plan if you already have a Medicare Medical Savings Account (MSA) Plan either.

After you choose a Medicare supplemental insurance plan you must pay a private insurance company a monthly premium to enroll in the program. You must pay it every month to stay in good standing, and it’s in addition to your regular Medicare premiums.  A Medigap policy from a private insurance company will only cover one person. If you need your spouse or children covered, you’ll also need to purchase separate policies.

You should also know that you need to purchase from a private insurance provider who has been licensed to sell in your state. One great benefit of the Medigap policy is that you’ll always be covered, and that it’s guaranteed renewable, even if you have health problems. If you pay the premium, the insurance company won’t be able to cancel the policy.

After January 2006, Medigap policies haven’t been able to include prescription drug coverage. If that’s something you’re interested in, you can search for information on Medicare Prescription Drug Plan (Part D).

Before choosing a Medicare supplemental insurance plan you should know that the Medigap policies don’t cover everything. Some of these items may be long-term care, private duty nursing, dental care, eyeglasses, vision care, or hearing aids. Don’t mix up Medicare supplement insurance plans with other types of medical insurance plans. Before you enroll in a Medicare supplemental insurance plan, carefully review your options and make the right choice of plan for you and your family.

Learn more about Medicare Supplemental Insurance plans, rates and more at http://www.emedicare-supplemental-insurance.com.  Medicare Supplemental Insurance brokers will help you compare Medicare Supplemental Insurance rates and plans.  To talk to an expert in Medicare coverage toll free 877-202-9248 today!

 

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