Persons age 65 and older are eligible for the Medicare national health care program for insurance coverage. Medicare Part A is specifically for hospital expenses, Medicare Part B is for doctor visits and outpatient costs, and Part D is the prescription option to help defray drug expenses. The term medigap refers to a non coverage portion in Medicare coverage that the participants are responsible to pay for. In order to fund these costly gaps, Medicare supplements are available for enrollees.
Medicare supplements are offered to persons who are enrolled in Medicare Parts A and B. These supplemental policies may be purchased from private insurance companies to pay for the Medicare gap in coverage. There are numerous types of private policies that have a wide range of premiums. Monthly payment costs for this type of insurance are a consideration for seniors who live on a fixed income. It has been reported that the same type of insurance coverage can be priced differently with insurance companies; it is important to compare policies and prices before making a decision.
Medicare supplements can be purchased to pay for medical expenses that Medicare Parts A and B do not cover. Privately purchased insurance policies can pay for some or all of co pays, deductibles, and charges not covered by Medicare. The government sets standards that help to ensure that policies issued through different insurance companies are relatively close with their coverage. Once Medicare supplements have been purchased they are guaranteed to be renewable. Seniors are encouraged to seek information through the Government Medicare website or speak with a Senior Community representative for additional assistance.