Archive for October, 2011
What is Medicare Supplemental Insurance?
Medigap Insurance insurance is known as Medicare supplement insurance. This is because it supplements ‘fills the gaps’ of your medicare insurance coverage. This insurance can be bought from private insurers. They must adhere to strict guidelines to ensure consumer protection. It’s still vital that you do a lot of research before making a final decision on which plan and insurer to purchase from.
There are currently a variety of ten unique medigap plans to choose from. The plans are lettered A ‘Plan G’ with one insurer will be identical in benefits with every other companythrough N in order to keep things some what simple. These are standardized policies and by law, the insurance companies must not alter them in any way. This is to protect you, the consumer. A ‘Plan G’ with one insurer will be identical in benefits with every other company’Plan A’ from one provider will be identical to the same plan from another.
- At-home Recovery
- Skilled Nursing Care
- Medicare’s Part A Deductible
Along with all the basic benefits explained in every medigap insurance plan, each will offer an additional list of benefits. Again, these are standardized and do not vary from one insurance company to the other.
It would appear, that, it makes no difference what so ever who you were to purchase supplement insurance to medicare from. Every single insurer does provide you with the same exact benefits, after all. However, there are multiple different ways of setting a premium so most insurers will offer the same benefits but at a different price. In addition, it is their job to sell you insurance and each company will emphasize aspects of the insurance that protect their company from financial risk as much as the law allows.
Generally speaking, before you can buy Medigap policy you must first have Medicare Part A ‘Plan G’ with one insurer will be identical in benefits with every other companyand Part B and you must pay a monthly Medicare Part B premium. This is on top of the premium you will pay to your Medigap insurance company. Roughly speaking, you should expect to pay more for your policy the higher up the alphabet you go. Plan J is the most expensive policy.
You must keep in mind that these plans are administered on an individual basis. Your spouse will not be covered. You both have got to buy your very own medigap plan.
When you are comparing insurance companies, bear in mind that no matter what a salesperson may say, the medical coverage for each plan, from Plan A ‘Plan G’ with one insurer will be identical in benefits with every other companyto Plan L, is identical, no matter who you buy it from. Insurers are not required by federal regulations to all charge the same amount for a specific plan. Therefore, if Plan D, for example, seems to suit your needs the best, get the cheapest Plan D you can.
Another important consideration is to purchase your Supplement Insurance within six months of enrolling in Medicare Part B. If you do so, the insurer is required to accept your application no matter what your previous medical history is.
If you keep these tips in mind, you will get the most out of your Medicare Supplement Insurance. If you are still in doubt, consult the official U. S. Government Medicare agency for further information.
Are you in Need Of Health Insurance fast? Then medicare insurance is a click away. This is medigap insurance that is so simple to purchase that it is kind of funny.
Will Marry for Health care insurance,My medical issues.Does Barack Obama care ?