What is a Supplement?
Medicare Supplement plans cover 10 million Medicare beneficiaries. Also referred to as Medigap plans, these policies help pay for your share of Medicare expenses, such as your deductibles and co-insurance. Medicare supplement insurance plans are available for purchase in all 50 states and are very popular with people who want little to no copays when they access healthcare services. See the chart with all the Medigap plans by clicking the button below.
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Many people new to Medicare feel surprised to find that Medicare covers only 80% of your Part B expenses. The other 20% can be devastating to you financially if a serious illness arises. You can choose a Medicare Supplement that will pay some or all of that 20% for you, among other things. Also, during your one-time open enrollment window, you are guaranteed the right to purchase a Medicare Supplement plan. Your health status does not matter when you buy a plan during this six-month window.
Supplemental insurance for seniors with Medicare essentially buys you peace of mind
by eliminating that cost-sharing responsibility.
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Some of the primary advantages of a traditional Medicare Supplement policy are:
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Freedom to choose your own doctors and hospitals.
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No referrals required to see a specialist.
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Predictable out-of-pocket expenses for Medicare-covered services.
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Nationwide coverage – you can use it anywhere in the United States.
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Guaranteed renewability – the insurance company can never drop you or change your coverage due to a health condition
Medicare Supplemental Plans Coverage
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Medicare Supplement plans pay after Medicare approves and pays its share of your claim.
They are Medicare gap insurance, helping to cover the gaps in Medicare that normally you would have to pay.
This includes things like deductibles, coinsurance and copays.
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You can use your Medicare Supplement plan at any provider in the nation that accepts Medicare.
This makes Medicare Supplements great for travel or for people who live in more than one state throughout the year.
Medicare Supplements plans do not include retail drug coverage,
so you’ll want to purchase a standalone Part D drug plan for your medications.
A Medicare Supplement does not cover routine, dental, vision or hearing services either.
Since Medicare itself does not cover these items, your supplement cannot pay anything toward them either.
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To view the Medigap Plan Chart click the button below.