In order to be covered for services that are not currently allowed by Medicare, a senior would have to carry and pay the premiums, copayments for supplemental insurance plans. Unfortunately, these plans can be a bit tricky when it comes to trying to figure out which of them is best for you to choose in order to get the best deal for yourself.
These Medicare Supplemental Insurance Plans also referred to as Medigap Plans are all pretty much the same since they are heavily regulated by the Federal Government. However, because they are offered by private insurers the pricing will vary depending on the company that is making the offer.
You still want to educate yourself on what is fully covered and what is not when it comes to Medicare. This way you can be sure that whatever Supplemental Insurance plan you ultimately choose is going to cover all of your medical needs moving forward. Another important aspect of Medicare Supplemental Insurance Plan is that you are able to choose one that you would be able to afford to cover the premiums, copays, and deductibles.
7 Important things to know about Medicare Supplemental Insurance Plans
You must already be covered by Medicare Part A and Medicare Part B.
You must already be covered by a Medicare Part A or Part B to qualify for a supplemental plan. You need to select a supplemental insurance policy that fit your needs.
All costs of supplemental insurance are on you.
You are going to have to cover all of the costs of the supplemental insurance policy which includes premiums, copayments and deductible payments. This is all on top of having to pay your Part A and Part B.
Supplemental insurance plans only cover one individual.
Even if both you and your spouse are qualified for a supplemental insurance policy you cannot get a policy that covers you both. You must purchase two separate policies and pay separate fees for each.
All fully paid supplemental policies cannot be canceled.
All supplemental policies continue to be enforced as long as you pay the premiums. This includes any major medical issues that would ordinarily be grounds for cancellation.
All new supplemental policies do not include prescriptions.
Even though Medicare supplemental policies used to have prescription drug coverage prior to 2006, this has been permanently changed and this means no prescription drug coverage.
You cannot combine a Medicare Advantage Plans with Medigap Supplemental Insurance Plans.
The rules are set up in a way that you cannot have a Medical Savings Account and then buy a supplemental insurance plan.
You can go to any insurance broker who is licensed to sell supplemental insurance policies within your state.
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!