How Do I Find The Best Supplementary Medicare Insurance For My Needs?
Individuals that have original Medicare often need a supplementary Medicare insurance policy to cover gaps in coverage.
These are supplementary Medicare insurance policies that are purchased to supplement the coverage that is provided by original Medicare. Original Medicare does not cover all healthcare costs. This includes a copayment or coinsurance for a routine doctor's visit. Medicare will first pay approved amounts and the Medigap policy will then cover its share of covered costs.
Individuals are eligible to purchase a Medigap on the first day of the month they attain age 65 and have enrolled in Medicare Part B. This enrollment period will last for six months. If you are under the age of 65, then some states have additional enrollment periods. The application for a Medigap policy is able to be sent to your health insurance company before your enrollment period starts.
Supplementary Medicare insurance policies sold in each state will include specific benefits. Your health insurance company will offer a standardized policy regardless of the state in which you reside. A policy is standardized to make comparison of various plans easy. The most common plan that is available is Plan A. There is also Plan C, Plan D, Plan F, Plan G, Plan K, Plan L, Plan M, and Plan N.
Buying a Policy
Compare the available Medigap plans in your state and find one with benefits that meet your needs for healthcare coverage. Select a plan option that is available from A through N. You then need to find a health insurance company in your state that sells Medigap policies. Contact the insurance company and compare the cost of the Medigap plans they offer. Complete the application and submit payment for the policy. The policy will be sent to you within 30 days.