California Medicare Supplement

Medicare Supplements

Medicare supplemental insurance is a private insurance policy that covers things that Medicare won’t. It is basically a backup insurance policy for seniors, so that they don’t find themselves in a jam when Medicare denies one of their claims. Medicare supplemental insurance is something that every senior should have; as there are too many things that neither Medicare Part A nor Part B will fully cover. With many seniors strapped for cash as it is, it is important that they don’t have to worry about the added burden of a denied medical claim.

If you are looking for Medicare supplemental insurance, it is best to apply for a policy during your open enrollment period. This way, you cannot be denied by any health insurance provider and you will be able to receive this additional coverage at a reasonable price. Medicare has rules in place regarding supplemental insurance policies that health insurance providers must abide by. These rules are in place to protect seniors who need additional health care coverage, but many of these rules only apply during one’s open enrollment period. After this period, you could possibly be denied by a health care insurance provider, due to age or a medical condition, or they could charge you a lot more for coverage.

To qualify for Medicare supplemental insurance, you must be enrolled in both Medicare Part A (which you are usually automatically enrolled in when you turn 64 and the coverage is free of charge) and Medicare Part B (which you must sign up for and is more like a standard health care plan with a deductible and premium). You can then choose a Medicare supplemental insurance policy, also known as a ‘Medigap’ plan. The government has rules about what each Medigap plan should and should not cover and has established 12 different plans to meet these criteria – Medigap plans A through L.

Although insurance companies do have the option of choosing which Medigap plans they want to offer, each plan will have the same main benefits and different additional benefits. For example, if you are looking at two different Medigap A plans from two different providers, they should be identical. However, the additional options of a Medigap A plan will be different than those of a Medigap B plan. The real dilemma is deciding which of the 12 Medigap plans are right for you.

Additionally, there are no family plans when it comes to Medigap coverage, only individual plans. Therefore, you and your spouse must choose and purchase your own separate Medigap plans. This also means separate premiums each month. On some Medigap plans, health insurance providers are able to offer higher co-pays in return for lower premiums. Furthermore, they can also offer higher deductibles (around $1,900) in exchange for even lower premiums. If you are fairly healthy, these options may be a low-cost way to get the additional coverage that you need. This is why comparing the cost of each plan, along with the deductible and co-pays, is so important.