You have reached your 65th birthday and have enrolled in Medicare Part A and Part B, now what? You know you should have some additional health care coverage to help pay the difference between what Medicare pays and you out of pocket expenses. You can find a Medicare Supplemental Policy that will provide the health care benefits you need. Medicare Supplemental polices are regulated by your state, so you can feel more comfortable in doing your research knowing the plans have been approved. There are five easy steps to finding the Medigap policy best suited for your needs.
You State insurance department will have a list of approved Medicare Supplemental policy companies. Once you have this list, you can research the different Medigap Plans A through Plan N. Each of the Medigap Plan have different benefits and meets different needs. Every of the Medicare Supplement Policy have different monthly premiums.
With the web, you can search online for quotes on the Medigap Plans you are interested in. You could also from the State provided list called an Agent of the Medicare Supplemental Policy company and get a quote and ask questions at that time. Before doing this, you might make a list of the benefits you really need and those that would be nice to have. At this point in your life, you don’t want to be under insured nor do you want to over insured and have higher premiums than necessary.
The cost for a Medicare Supplement Policy should not be the only factor you consider. Be sure to compare apples to apples when comparing the benefits and cost of each of the Medigap Plans. Some of the plans offer cost sharing benefits where you have co-pays and have to meet deductibles before they kick in. In return, they provide a lower premium than the other plans that have similar benefits. A little time spent here will help you buy a Medicare Supplemental Policy that is best for you.
After careful research, you have found the best Medicare Supplemental Policy Plan than meets your healthcare requirements. All is left is just choosing the Medigap company. Talk to your friends to see who they are insured with. You can search the web regarding complaints against this company. You State insurance board can tell you about any complaints and how this company resolves them.
This is not a hard process. If you are within the Medicare Open Enrollment period, and you reached your 65th birthday and have been enrolled in Medicare Part A and Part B, you cannot be denied coverage. You can’t be denied coverage for pre-existing conditions. You will have to complete their application and provide basic personal information about yourself. Once completed there is no waiting time for your Medicare Supplemental policy to take effect.