Do I Need Supplemental Insurance For Medicare?
It can be confusing trying to decipher all the different parts of Medicare, and how Supplemental Insurance for Medicare fits in to the puzzle. Medicare is assistance from the government that helps to assist you in paying for your medical costs, and Supplemental Insurance for Medicare are plans which are offered only for those of us who have Medicare.
What is Medicare?
Medicare is split in to two different types, Plan A and Plan B. Plan A is used to help you pay for situations where you end up staying in the hospital. Plan B is used to help you pay for visits to the doctor and other outpatient services such as medical tests.
What is Supplemental Insurance for Medicare?
Supplemental Insurance for Medicare is insurance that you purchase from a private insurance company that is meant to work together with Medicare to fill in the gaps that it does not cover. It helps you to pay for the costs that Medicare does not cover. There are twelve different types of supplemental insurance. Each of them offers different benefits, but the plans themselves to not vary between different insurance companies.
Is Supplemental Insurance for Medicare right for you?
The choice is up to you, of course. If you feel like Medicare gives you enough coverage to help you deal with medical situations, than you may choose not to purchase supplemental insurance. Supplemental insurance does cost you more each month that you would otherwise be paying. On the other hand, supplemental insurance can give you the added comfort of knowing that in the event of a medical emergency you will not be as financially burdened as you would be with only Medicare.