Could My Current Insurance Be My Medicare Supplement Provider?
A medicare supplement plan is an insurance plan that you can purchase in order to pay for some of the costs that Medicare does not cover. For anybody who knows somebody that uses Medicare, you are probably already aware that the government plan only covers about half of the costs that are associated with health care. A Medicare Supplement provider can cover some of these additional costs in exchange for a monthly premium. In many cases, your current insurance provider may also sell Medicare Supplement plans.
I Don't Like the Benefits Offered by My Insurance Carrier
This is not a problem. Medicare Supplement plans are regulated by the federal government. There are several different plans available, but the benefits offered by each individual plan do not vary based on the company. Every company must offer the same benefits for the same plan. In other words, you don't have to be concerned if your insurance carrier has been misleading about the benefits offered by their plans in the past. The benefits covered by a Medicare Supplement plan are the same no matter the carrier.
Do I Have to Use My Current Provider as my Medicare Supplement Provider?
Absolutely not. During the first six months after you sign up for Medicare Part D, you can choose any provider. They are legally required not to ask for medical screening during this period. You are guaranteed the right to sign up for any of the plans. Since the plans are the same no matter the carrier, the only concern is the cost offered by the company. Keep in mind that some carriers will begin to raise the price as you age, however, so try to avoid this type of pricing plan if you can.