Losing insurance coverage can be very devastating in all facets of life. This can be felt especially in the realm of personal finances. A Medicare Supplemental Insurance plan might be the answer, if you meet the qualifications.
A person qualifies for a Medicare Supplemental Insurance plan (also called Medigap) as soon as they are eligible for the Medicare program. It is available to those who are 65 years of age or older, or meet the criteria of certain illnesses. Also, Medigap plans are only offered in conjunction with existing Medicare plans.
Medicare Supplemental Insurance Plans are supplemental insurance plans offered through private insurance companies. They are meant to cover costs that are deemed medically necessary by Medicare, yet Medicare will not cover these costs. There are over twelve Medicare Supplemental Insurance plans currently available. They range in cost and coverage according to a person’s needs, lifestyle, and finances.
If you are over the age of 65 or meet the criteria of certain illnesses, you are Medicare eligible. And, when you are Medicare eligible, you are Medigap eligible as well. That means, if you are Medicare eligible, you can apply for Medicare and Medigap at any time. It is highly recommended to do this as soon as you qualify in order to ensure proper coverage should you need it.
If you should find yourself wanting more information regarding Medigap plans. contact Medicare, a private insurance company which offers Medigap plans, the Social Security Administration or even your Human Relations office at your work. All of these resources will help determine what is best for you.