Medicare Supplemental Insurance

Medicare Supplemental Insurance

Medicare Supplemental Insurance is a policy provided by private insurance companies that fill the gaps in coverage that your basic Medicare Part A and Medicare Part B do not cover. Parts A and B, while covering close to 80% of your medical bills and expenses certainly do not cover them all. There are gaps in the coverage and that is why sometimes a Medicare Supplemental Insurance Plan will be called a Medigap policy, because it is designed to cover the gaps that Medicare parts A and B do not. The gaps that a Medicare supplemental insurance policy will cover include deductibles, co pays, and a lot of other various expenses. All of these little expenses added up can add up to quite the financial headache if not covered properly.

For those who have found the financial struggles associated with the missing coverage from Medicare Part A and Medicare part B, a Medicare supplemental insurance policy has become a key factor in providing financial peace of mind. Depending on the Medicare supplemental plan an individual chooses, these plans will pay most if not all the gaps in the individual A and B plans. Some would think that an insurance plan like this would be pricy, but the premiums are surprisingly affordable.

One of the big perks of these policies is individuals can receive a policy without a medical exam. During what is called a "guaranteed issue period" there is no medical exam and an individual is basically guaranteed a policy which is also guaranteed renewable. This is a big draw for those with pre existing health issues, because once the coverage is in place the insurance company will not raise the premium and the individual is guaranteed the option to renew the policy.


Read more:  http://www.medicare.gov/publications/pubs/pdf/02110.pdf 
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American Compensation Service, Insurance Services, San Ramon, CA