Don’t be confused about Supplemental Medicare insurance cost. It’s optional and you’ll pay the premiums.
By this time if you’re in Medicare Part A and Part B you know you qualify for supplemental Medicare insurance plans. Even though all Medicare approved insurance companies must offer the same benefits, the premium rates may vary in terms of fees.
Well, the insurance policy will help cover some of the copay, coinsurance, deductibles, and excess charges “gaps” in your regular Medicare Part A and Part B plans. And since all company benefits are regulated by Medicare, the policy costs will be determined and paid by you, the beneficiary. This is where shopping around on the Internet comes in handy.
It will be a tiresome and frustrating process. However, before searching online keep in mind the following: you must have Medicare Part A and B, you’ll have to pay your Part B premium, you’ll have to pay the insurance company for the supplement or “gap” policy, the policy will only cover you, and that Medicare insurance policies do not cover drug prescriptions
First, decide if you need the “gap” policy or not. Supplemental Medicare Insurance cost will pay any costs that extend beyond the Medicare plans, so you’ll have to make that decision on your own. But here are several things to lookout for.
#1 – Figure your monthly budget; know what you can afford or not. Supplemental Medicare insurance cost is $1,100 to $3,300 annually and categorized A through J.
#2 – Compare supplemental costs, limitations and exclusions with at least three companies online.