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Medicare Supplemental Insurance: Our 5 Part Series
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Part I
What follows is page one of our eight-page series on Medicare Supplemental Health Insurance, including definitions, tips, and information regarding supplemental coverage for older Americans.
Medicare can be confusing - there are many plans to choose from, each with their own set of rules and regulations, as well as varying points of coverage.
But if you're concerned about Medicare supplemental insurance, you needn't worry. If you know what you need to have covered, and how to go about getting it, finding and purchasing supplemental health insurance can be a quick and easy process.
First of all, what exactly is Medicare supplemental insurance? Medicare supplemental is sometimes known as "Medigap" coverage because it's designed to fill in the gaps where Medicare falls short. While Medicare can offer many important treatments and good quality doctor's care to older Americans, many seniors have found that it doesn't cover long term care, or more advanced treatments for things like chronic illness.
This type of medical care can be very expensive, which is why so many seniors purchase Medicare supplemental insurance.
So what does supplemental insurance cover? That depends on the plan you choose, but for the most part it will cover some of the health care costs not covered by Medicare, including co-payments and deductibles.
What supplemental insurance does not cover includes dental care, vision care, and hearing aids. Since so many seniors rely on these products and services it's important to know what is and isn't offered by your insurance.
So how do you choose a supplemental plan? Every Medicare supplemental insurance plan in the United States is governed by Federal and state law, and insurance companies can only sell you "standard" plans identified by letters A through N.
And no matter what plan you choose, each supplemental plan will cover a core of benefits designed to protect you should Medicare fail to cover your medical costs.
How do you purchase a supplemental plan? Medicare supplemental plans are offered by outside insurance companies, and are purchased in conjunction with (and not instead of) Medicare Parts A and B. There is a window of time during which you can get the best prices on supplemental insurance, but it's still best to shop around before you sign on the dotted line!
Up next - Is supplemental insurance right for you?
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