Why You Might Need Supplemental Insurance in Addition to Medicare
Here are some things to consider when deciding on Supplemental insurance for medicare.
When the time comes for looking into your Medicare options, you are going to have to make some decisions. While traditional Medicare plans will help you with your health care costs, you will still have out-of-pocket expenses that will come up. Deciding whether you need additional insurance for medicare will take on greater importance.
What is Your Financial Situation?
Unless you happen to be independently wealthy, out-of-pocket expenses will usually be difficult to deal with, especially coming as they do when you least expect. It's human nature to think nothing will happen to us, and we won't need extra insurance. People with savings have been fooled into thinking they will have enough to cover an emergency hospital visit.
A Good Reason for Having Insurance For Medicare
Planning ahead for the unknown will be to your advantage. By deciding to get supplemental insurance for medicare, you can then rest assured that your plan will pick up and pay for the patient's part of the bill left after Medicare has paid their part. Remember too, a monthly payment will also be easier on the pocketbook.
Types of Supplement Plans Available
Medicare Supplement plans are also called Medigap plans,
In other words, they fill-in where Medicare leaves off. There are plans that cover deductibles and coinsurance. and plans for long-term skilled nursing care. There are also plans to cover hospital care after your allowable hospital days are used up with Part A Medicare.
Deciding How Much and Why?
What kind of supplemental insurance for medicare you get will depend on your needs and what you can afford to pay each month. One thing to remember is this, If you decide on getting a Medigap plan, do so within the first 6 months after you are eligible because Medicare guarantees an insurance company can't turn you down for a pre-existing illness.