Standardized Medicare Supplements, also known as Medigap or Supplemental Insurance came into law in 1992. Since then, all plans sold must offer the same benefits as defined by their plan type regardless of the insurance company.
There are many options when choosing a Texas Medicare Supplement, also known as Medigap Plans or Gap Insurance. With all of the choices, you will want to review a Medicare Supplement Comparison showing all of the rates and all the plans in your area.
After six months of opening our doors we are expanding with a national television campaign. Doug Llewelyn, who you might remember from the People’s Court will be our spokesman.
When asking what is a Medicare Supplement, it is first important to understand Medicare and how it works. Medicare covers 80% of approved health care expenses. Medicare Supplements, also known as Medigap Plans, are designed to cover the remaining 20%.
When it comes to supplementing your Medicare Part A and Part B benefits you have a few options. If you are shopping for coverage, it is important to understand the differences between your available choices.
Because Original Medicare doesn’t cover everything, it is highly recommended you purchase additional coverage. Otherwise, you are leaving yourself open to potentially limitless hospital bills. Your top two choices for additional coverage are a Medicare Supplement or Medicare Advantage plan. There are advantages to both.
Medicare Supplement vision coverage only applies to exams, procedures, and therapies covered under Original Medicare Part A and Part B. There are no covered benefits beyond what Medicare offers.
If you are enrolled in Medicare Part B, your Medicare Supplement Open Enrollment begins the first day of the month in which you turn 65 and lasts for six months. If you’re concerned about forgetting the dates. Don’t worry. You will be inundated with Medicare Supplement marketing material. And you thought nobody cared about your birthday.
In this post, I hope to explain why you shouldn’t worry about Medicare Part B excess charges when shopping for a Medicare Supplement. Currently, the very popular Medigap Plan C and Medigap Plan F are the only plans that pay for excess charges. Hopefully, after reading, you’ll agree that paying for this benefit is a waste of money.
Every year you should evaluate your health care coverage. Before deciding to make any changes, consider the current cost of your plan, your overall satisfaction, and your health status.