When you or your parents turn 65, thoughts turn to Medicare insurance. Medicare and supplemental Medicare policies can be intimidating and unnerving. Seniors should not fear coverage for many reasons. Seniors cannot be denied coverage or be made to wait for coverage to begin. Supplemental coverage is offered by private insurance companies and work only with the original Medicare plans, part A for hospital insurance and part B for medical insurance.
There are 12 Medigap, supplemental Medicare, plans in all and they are listed from A-L. Private insurance companies offer these, but all Medigap policies are not offered by every insurance company. Seniors should ask if coverage is available and certified by their state of residence. Companies provide a list of benefits and prices before you purchase. You should not purchase a policy if licensing is in question.
It is important to know how policy pricing. Do insurance carriers base premiums on age, or do fees are increase due to age? Does the plan rely on help from non-profit service? Are there discounts or benefits depending on membership to organizations? Analyze your budget. Senior citizens can find more information through government websites, health fairs, drug stores and senior groups as well and individual insurance companies.
The best time to enroll in a plan is during open enrollment. The time for open enrollment is from the first day of the month, which you were born, and continues for six months afterward. Once enrolled, the senior citizen cannot have their coverage changed or canceled as long as premiums are paid. Legally, insurance cannot increase premiums due to changes in health status.