Do I Need A Medicare Supplemental Plan?
Many people make the mistake of thinking that just there Medicare coverage is going to be enough for all their health care needs. Unfortunately, that often is not the case. If you know that you don’t have full coverage it is probably a good idea for you to at least consider whether or not you need a Medicare Supplemental plan. If you have private insurance you may want to consider using Medicare as your secondary insurance, just to cover any extra expenses that could possibly deplete your savings.
Figure out Exactly How Much Extra Coverage You Need
It does no good blindly looking for insurance when you don’t even know what your needs are. It could potentially be a waste of time looking for something that won’t even help. Usually, using Medicare supplemental plan policies is easier than most because the administrators will tell you exactly how much qualify for, instead of a private company finding a policy that fits your budget. If you get the right kind of deal there should be no need to worry about going bankrupt over any type of medical treatment.
How Are Your Medicare Benefits Decided?
The government has guidelines used to determine the exact amount of coverage you will qualify for. One of the biggest determining factors is that of income or other type of assets that would allow you to pay for services on your own. The less means you have to pay for care, the more likely you are to get a more inclusive policy. Don’t worry if you need a Medicare supplemental plan because chances are if you need to be looking, you more than likely will be able to qualify.
Related posts:
- How Can I Enroll in A Medicare Supplemental Plan?
- How Do I Change a Medicare Supplemental Insurance Plan?
- Am I Eligible To Purchase A Medicare Supplemental Insurance Plan?
- Does A Medicare Supplemental Plan Replace Original Medicare?
- Should I Have A Supplemental And Medicare Advantage Plan?
I will be 65 in October. My former employer is offering a Medicare Carve-Out Plan (basically, catastrophic insurance) which includes a very good prescription plan. My husband won’t be 65 until next September, and he presently has his health insurance through my former employer.
I would like to purchase a Medigap plan because they cover more than the carve-out policy. However, if I give up my coverage with my company, my husband would have to forfeit his as well. Don’t want to have to find coverage for him for one year prior to his going on Medicare.
My question - is it feasible, or possible, to keep the carve-out policy and also purchase a Medigap policy from another company?
Thanks!
Liz
I will be 65 in October. My former employer is offering a Medicare Carve-Out Plan (basically, catastrophic insurance) which includes a very good prescription plan. My husband won’t be 65 until next September, and he presently has his health insurance through my former employer.
I would like to purchase a Medigap plan because they cover more than the carve-out policy. However, if I give up my coverage with my company, my husband would have to forfeit his as well. Don’t want to have to find coverage for him for one year prior to his going on Medicare.
My question - is it feasible, or possible, to keep the carve-out policy and also purchase a Medigap policy from another company?
Thanks!
Liz