Great tips on how to understand and decide on supplemental health insurance for medicare.
Everyone on Medicare should have a supplemental health insurance for medicare because without it the patient may pay thousands of dollars more for medical care. This insurance does as the name implies and that is it supplements the benefits of Medicare which pays only 20 percent of most medical expenses. The supplemental health insurance for medicare picks up where Medicare stops paying. This is basically what supplemental insurance does.
You decide that you need it; it’s that easy. What becomes more difficult is determining what kind of supplemental insurance you need. There are many questions that need to be answered. First, what is your budget for the supplemental insurance premium which is in addition to the Medicare premium? Secondly, what expenses do you expect to incur that Medicare will not pay for?
Look ahead at what medical expenses you expect to incur in the next year. Look back at what medical expenses you had to pay last year that wasn’t covered by Medicare. Now obtain a benefit summary booklet from the supplemental insurance company and study the coverage and compare to what you expect to need. Every year in October Medicare sends out a new coverage booklet and in the back will be identified the supplemental insurance plans that cover your geographical area. Call the one or two plans that seem to fit your criteria and ask for a benefit booklet to be sent to you. These books compare the coverage of the companies to the Medicare benefit plan. You can easily see how you can benefit.