If you already have Original Medicare coverage, you can qualify for Medicare supplement insurance as well. The Original coverage has two parts: Medicare Part A and Medicare Part B. Part A offers hospital insurance while Part B covers medical insurance costs like doctor visits, vaccines, medical equipment, and specific screenings. Both parts may come with an annual deductible, copayments, and coinsurance for given inpatient treatments. To reduce the cost burden of your Part A and Part B Medicare, you should buy a Medicare supplement plan— also called Medigap or MedSupp. The following are the main reasons why you should get this plan.
The plan can protect you from paying huge medical bills
It could be possible that you have to buy medical supplies that are too expensive even when they are covered by Medicare. As long as you have Medicare Part B, eighty percent of the total supplies cost will be paid on your behalf. The remaining twenty percent will be your own bill to meet. If you have several Medigap plans, this cost could be totally taken care of. On the other hand, one plan may eliminate a part of your bill. Thus, a supplement plan can considerably reduce your medical bill.
Acceptance is easy and quick
Even if you have health issues, you can purchase Medicare supplement insurance plans from a provider near you. Your health condition cannot stop this from happening. As long as you don't wait until the Medicare Supplement Open Enrollment Period is over, you are fully eligible. This refers to that 6-month period that starts when you turn 65 years of age and is already servicing your Medicare Part B. However, you might still get a supplement plan after this duration if you can prove that you are losing your other Medicare coverage. In this case, you should use your guaranteed issue rights.
You can see any physician or clinic that participates in Medicare
Medical insurance can be inconvenient when your insurer has to decide the hospitals you can visit or doctors you can see. Luckily, things will be more flexible when you purchase MedSupp plans. Once you visit a doctor or hospital that accepts Medicare, your bill will be paid. Despite that, there is a plan you can buy and get covered only if you visit designated hospitals and doctors. This is called Medicare SELECT.
A wide range of plans to choose from
There are ten standardized Medicare Supplement policies. They offer broad coverage to help people pay their Original Medicare bills. While some plans require one to pay bigger monthly premiums, they provide the most coverage when a claim is filed.
Coverage goes beyond the U.S
If you travel to different nations for business, pleasure, or work, Medicare supplement insurance is something you should have. It will help you a lot should an accident or an abrupt illness happen to you.
Use it anywhere in the U.S
If you decide to move to a new state, you are allowed to continue using your current Medicare supplement program. This can save your time and the hassle of going through the application process again.
Finally, note that Medicare supplement insurance do not cover you and your spouse. If your spouse needs coverage, they should buy their own plan. For more information, contact Medicare insurance services in your area.