medicarefaq (medicarefaq) wrote,

Why Every Senior Should Have a Medicare Supplement Plan

Medicare supplement insurance, also commonly referred to as Medigap, is a type of insurance that’s sold specifically by private companies. These insurance policies help to pay for some of the costs that aren’t covered by standard Medicare policies.

For instance, a Medicare policy might cover the costs of an entire doctor visit, save for the deductible. A Medigap policy would possibly pay for the deductible that wasn’t covered by your Medicare policy. Some of the primary coverage types that can be provided by a Medicare supplement plan include:

  • Copayments

  • Deductibles

  • Coinsurance

  • Hospital costs in the event that you run out of days covered by Medicare

  • Skilled nursing facility costs when you run out of Medicare-covered days

  • Most additional out-of-pocket expenses

All that’s required of you when selecting one of these policies is to pay the monthly premium for this Medicare supplement plan. You must also have a Medicare Part A and Part B plan. Each plan will differ slightly, so weigh your options before choosing the one you believe is right for your needs.

This post Why Every Senior Should Have a Medicare Supplement Plan was first found on Healthable

  • Post a new comment


    Anonymous comments are disabled in this journal

    default userpic

    Your reply will be screened