Supplemental insurance policies are sold by insurance companies to individuals who qualify for Medicare. These policies help to plug any gaps that the Medicare policy may have. This is especially so because it is apparent that Medicare cannot pay for all medical costs that its members incur. Medical supplemental insurance was established as a response to this deficit in the Medicare insurance policy. Having Medicare insurance is an important way of lowering ones medical bills although you may be wondering, do I have to have supplemental insurance if I qualify for Medicare? Here are a few tips to help you answer that question.
Medicare general criteria are fairly straightforward and accessible to most Americans on attaining 64 years of age. In addition, having any form of disability qualifies one for Medicare despite one’s age. Medical supplemental insurance is an important avenue by which the inadequacies of Medicare are addressed. This means that much as it may not be requirement to have medical supplemental insurance, it does go a long way towards lowering those medical bills.
You may not have to have supplemental insurance if you qualify for Medicare if you do not have significant medical bills. This is because supplemental insurance requires that you pay premiums in addition to your Medicare premiums. This is because you have to be part of Medicare Part A and B in order to qualify for Medigap.
Medical supplemental insurance is taken out on an individual basis. This means that if you do not have substantial medical bills but your spouse does, you may waive your right to have it in favor of your spouse. This lowers the overall insurance premiums paid out by your household.