Is Medicare Supplemental Insurance Coverage Affordable and Necessary?
Medicare Supplemental Insurance Coverage - your "Gap" protection parachute!
After you sign up for Original Medicare or choose not to join the Medicare Advantage Plan, you'll continue on with Medicare Part A and Part B that will cover most, but not all, of your medical needs. Waiting in the wings is an option called Medicare Supplemental insurance coverage, also known as "Medigap," that offers coverage Part A and B cannot.
What Do These Medicare Supplement Policies Actually Help Cover?
Supplement policies help pay the copayments, deductibles, and any coinsurance that other wise would be left wide open by just plain Medicare. The simple answer is these Medigap policies offer benefits Original Medicare can't, including prescription drug coverage.
Are All Of These Supplement Or Gap Plans Alike?
Once you go shopping, and you should, for a supplemental policy you will find that most all plans include: benefits, claim processing, claim decisions, and a complete list of doctor's; called a doctor's network.
Does Everyone Need Medicare Supplemental Insurance Coverage?
No, not everyone. If you have other types of health coverage you're satisfied with, then gaps in your personal medical coverage are probably already taken care of. In that case, you shouldn’t need any supplement coverage if: your employer offers a group health plan, you have a Medicare Advantage Plan, or you can qualify for a state policy called Medicade.
Who Issues These Medicare Supplemental Insurance Coverage Policies?
Private approved insurance companies issue the policies and benefits are set by the federal government. The policy is automatically renewed each year, but if you drop it you may lose it.
Who Qualifies For Supplemental Insurance?
To qualify you must have Medicare Part A and Part B. To compare policies use the Internet to find out who has the best policy deals.