Seniors today have to face many obstacles when it comes to planning their budget and maintaining the cost of healthcare. Today we live in a changing economy that constantly reminds us of why it is so important to have health insurance. Seniors 65 years of age and older have been guaranteed access to a public health insurance plan named Medicare since 1965. Medigap policies help seniors pay deductibles and coinsurance that they would normally have to pay out-of-pocket.
Medicare coverage can vary from state to state and can cover up to 80% of health care for these citizens. This program however, does have areas of gaps when it comes to coverage for many. Many healthcare concerns may be left untreated with Medicare. Luckily for many, there is hope. Medicare supplement insurance, also referred to as “Medigap” offers bridges to the gaps not covered by Medicare.
What does it cover?
The supplemental insurance is only offered to seniors who qualify for medicare. Prices of the additional insurance vary depending on different providers and plans. Coverage with Medigap policies may include extended stays in the hospital, dentures, co-pays, and even medical healthcare expenses when outside of the united states. Without the coverage, seniors may have 20% or more out of pocket expenses when covered solely from Medicare. With extended stays in the hospital and possibly needing private nursing, that 20% can quickly become overwhelming. We offer free quotes on our site for shopping around and getting the best rates.
So how do you know if you or your loved one needs Medigap?
If you are a senior and you still work and can receive insurance from your employer, if you have a Medicaid Advantage Plan, or if you can afford your expenses you probably don’t need the supplemental insurance. For those that are not covered by an employer’s group medical plan or have their own insurance, then you may want to strongly consider taking advantage of the additional coverage.
When it comes to searching for the best coverage, remember every company has to offer the same plans. There are several Medigap policies and plans to choose from. Each plan is represented by a different letter from the alphabet and offers benefits accordingly. Every company has to offer Plan A and if they have additional plans then plans C and plan F must be provided as a choice.
Plans F, G, C, and N can cover all of Plan A’s deductibles and skilled nursing facilities not covered by regular Medicare. 80% of the coverage that Medicare would normally provide can be covered when outside of the United States with plans C,D,F, and G. Plan N can require a $20 copay for office visits and $50 for visits to the emergency room.
To plan for the best insurance provider for you Medigap policies use our site to compare plans and compare rates. Here you can get free quotes so that you can get the best prices from companies. We often don’t plan ahead for unexpected healthcare expenses, however they can be very costly. What better way to plan for your healthcare and help stretch your budget than to use supplemental insurance.