What is Medicare Supplement Insurance and Do You Need It?
If you are nearing the age when Medicare coverage starts (65 years old), then you might be surprised to discover that the medical coverage provided by the government isn’t exactly “all-inclusive.” In fact, there is a lot that Medicare simply won’t cover, including co-pays, co-insurance, and deductibles. Medicare also doesn’t cover things like skilled nursing, alternative medicine, or personal care assistance.
This is why having a Medicare supplement insurance policy, or a “Medigap policy,” is such a smart choice for most seniors. By having a supplemental insurance policy, you’ll enjoy more comprehensive coverage when it comes to your health care needs. This is important, especially during a time in your life when you can expect your health care needs to grow.
What You Need to Know About Medigap Policies
Medigap policies earn their name because that’s essentially what they do – the fill in the coverage gaps left uncovered by Medicare. But, before you can purchase a Medigap plan, there are some things you need to know about them, including:
Although your Medicare supplement insurance plan provides you with substantially more robust medical coverage than Medicare alone, even it won’t cover absolutely all of your potential needs. For instance, most supplement plans don’t cover things like long-term care, vision care, eyeglasses, dental care, hearing aids, or private-duty nursing. For a more complete list of what your plan will and will not cover, speak to your Medigap insurance policy provider.
On Medicare in Wilmington NC? Let Schnitzer-Slate Help You Find the Perfect Supplement Policy
You’re getting older and as a result, your healthcare needs are going to increase. This is when you need good coverage the most. Unfortunately, for most people, Medicare simply doesn’t cover everything they need from their health insurance. If you’re on Medicare in Wilmington NC and you fall into this category, then give Schnitzer-Slate a call today at 910-392-7020. One of our agents will help you find the right Medigap supplement policy for your healthcare needs and budget. Or, just visit our website at http://healthplannc.com/ to learn more about our affordable Blue Cross Blue Shield North Carolina Medicare supplement insurance plans for seniors.
This is why having a Medicare supplement insurance policy, or a “Medigap policy,” is such a smart choice for most seniors. By having a supplemental insurance policy, you’ll enjoy more comprehensive coverage when it comes to your health care needs. This is important, especially during a time in your life when you can expect your health care needs to grow.
What You Need to Know About Medigap Policies
Medigap policies earn their name because that’s essentially what they do – the fill in the coverage gaps left uncovered by Medicare. But, before you can purchase a Medigap plan, there are some things you need to know about them, including:
- You need to have both Medicare Part A and Part B in order to qualify for coverage
- If you have a Medicare Advantage Plan, then you need to leave that plan before your Medigap policy coverage starts
- You will be responsible for paying your monthly Medigap premium as well as the monthly Part B premium that you already pay to Medicare
- Medigap policies only cover one person. If your spouse in on Medicare, then he or she will require their own personal Medigap policy
- Medigap policies are available from any licensed health insurance company within your state
- Your Medigap policy is guaranteed renewable and can never be canceled for any reason as long as you make your premium payments on time
- Medigap policies stopped covering prescription drugs after 2006. If you need prescription drug coverage, then you will need to join a Medicare Prescription Drug Plan, or Medicare Part D
- If you already have a Medicare Medical Savings Account (MSA) Plan, then it is illegal for anybody to sell you a Medigap policy
Although your Medicare supplement insurance plan provides you with substantially more robust medical coverage than Medicare alone, even it won’t cover absolutely all of your potential needs. For instance, most supplement plans don’t cover things like long-term care, vision care, eyeglasses, dental care, hearing aids, or private-duty nursing. For a more complete list of what your plan will and will not cover, speak to your Medigap insurance policy provider.
On Medicare in Wilmington NC? Let Schnitzer-Slate Help You Find the Perfect Supplement Policy
You’re getting older and as a result, your healthcare needs are going to increase. This is when you need good coverage the most. Unfortunately, for most people, Medicare simply doesn’t cover everything they need from their health insurance. If you’re on Medicare in Wilmington NC and you fall into this category, then give Schnitzer-Slate a call today at 910-392-7020. One of our agents will help you find the right Medigap supplement policy for your healthcare needs and budget. Or, just visit our website at http://healthplannc.com/ to learn more about our affordable Blue Cross Blue Shield North Carolina Medicare supplement insurance plans for seniors.