As you approach age 65, you have many Medicare options. Medicare Supplement Insurance is a type of insurance designed to help pay the medical bills that Medicare doesn’t cover. Medicare Supplement Insurance (also known as Medigap) is government regulated, therefore the benefits offered from all plans are exactly the same regardless of insurance carrier. In some situations, it might make more sense to opt out of Original Medicare and Medigap and instead have a Medicare Advantage plan (Medicare Part C). Whether you end up with a Medigap plan or Medicare Advantage plan, you can also include a Prescription Drug plan (Medicare Part D) as part of your coverage.
We can help explain how Medicare Supplement Insurance works, answer any questions you have, and help you determine if Medicare Supplement Insurance or Medicare Advantage is right for you. We have the ability to offer insurance entirely online or over the phone. If you’re looking to enroll without speaking with one of our consultants, the entire process can be done online with our instant quoter. Either way, you can enroll in Medicare Supplement Insurance or Medicare Advantage from the comfort of your own home.
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What is Medicare?
Medicare is a federal program designed to offer low-cost health insurance to retired Americans age 65 and older. Medicare insurance benefits are also offered to permanently disabled Americans. There are two parts to Medicare: Part A and Part B. Part A is free and all qualified Americans receive the coverage. Part A covers specific benefits. Part B has a cost and it is purchased to supplement the coverage offered by Part A. For a description of Medicare Advantage (often called Part C), check out this blog post: Medicare Advantage blog.
What is Medicare Supplement Insurance (Medigap)?
Medicare Supplement Insurance (Medigap) covers the expenses that Medicare Part A and Part B don’t cover. Medicare alone does not nearly cover all of the expenses associated with major medical conditions involving treatment and ongoing hospitalization. In most cases, original Medicare covers only 80% of medical-necessities. You will probably be surprised by the large expenses not covered by Medicare. Medicare Supplement Insurance pays for those expenses not covered by Medicare. For a comparison between Medigap and Medicare Advantage, check out this blog post: Medigap vs Medicare Advantage.
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What is the Medicare Supplement Insurance Open Enrollment Period?
The open enrollment period for purchasing a Medicare Supplement Insurance plan is six months from the first day of the month of your 65th birthday. If you are not signed up for Medicare Part B at that time, then the open enrollment period for Medicare Supplement Insurance is within six months of when you do sign up for Medicare Part B.
During the open enrollment period, you are entitled to a Medicare Supplement Insurance policy at the same price a person in good health pays. Even if you are able to qualify for coverage outside of the open enrollment period, your premium costs could be higher.
Want to learn about Medicare Plans?
If you are eligible for Medicare benefits, you should consider purchasing Medicare Supplement Insurance (Medigap) or enrolling in Medicare Advantage (Medicare Part C). These Medicare plans can be a financial savior in the event of a serious medical condition. Medicare alone can leave you with significant medical bills to pay out-of-pocket.
By completing this form, you agree that an authorized representative or licensed insurance agent may contact you about Medicare plans.
State-Specific Medicare Information
We offer Medicare Supplement insurance plans, Medicare Advantage plans, and Prescription Drug coverage plans in multiple states across the USA. Please contact us to find out about plans in your area.
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