Protect yourself or your elderly loved ones is by investing in a health insurance supplement to Medicare. While Medicare does pay a major portion of bills, balances due after Medicare payments may not be written off by all providers.
While it is wise to align yourself or your loved ones with providers who will accept Medicare payment as payment in full, you can not guarantee all providers will write off the balance. If a policy is not in place when the person becomes Medicare eligible, investing in a health insurance supplement to Medicare you may save yourself or your loved one hundreds of dollars or more in balances due should a hospital stay or extensive testing be deemed necessary. When the unexpected comes up there is not always time to ask before admission or testing if all providers will agree to Medicare payment as payment in full. Most times it is the Medicare part B portion of the policy that will fall short of fulfilling the providers desire for compensation.
There are many reputable insurance companies who will provide a health insurance supplement to Medicare. In fact most major insurances offer tailored plans that will provide supplemental policies to seniors based on their needs. Prices and plans will vary from company to company so it may take some time to find the right fit for the persons needs if a policy is not in place when a person becomes Medicare eligible.
If a supplemental policy can not be afforded by the Medicare recipient, its best contact Medicaid to see if the person qualifies to use their policy as a supplement to a Medicare policy. Using Medicaid as a supplemental policy will ensure payment is accepted as payment in full, guaranteed.