Medicare Supplemental Insurance the Beginner

[Michelle Beverly]

The Medicare program provided by our government is really affordable and provides a good benefit to seniors but it's important to recognize that it still leaves around 20% of a person’s medical expenses to get paid out of pocket. Because of the medical expenses left to the consumer by Medicare can be very damaging to a person’s finances, many people purchase a Medicare supplement for additional protection. Medicare supplement plans work with your Medicare health policy not substituting but as an add-on. Medicare supplements are also called Medigap plans. Get some more extensive infos on our site, more: click here for more.

Medicare supplemental insurance covers deductibles, copays, and other expenses through the Medicare billing system even though it is provided by private companies. This is extremely nice because you do not have to file any separate paperwork. Because Medicare supplement plans are also standardized making it very easy for customers to find a plan that meets their needs. A Medical exam is not required in order to be approved for a Medigap policy making them easy for seniors to apply for and manage.

Getting a Medicare supplement plan when turning 65 means there are hardly any Medical questions to answer, and in most cases you cannot be rejected for pre-existing conditions. Another great benefit of having a Medigap plan is that you have the security of know it is guaranteed renewable.

After deciding that a Medicare supplement is probably a good idea many may wonder what is the best way to start the process. Whenever shopping here are some basic steps:
1. Make sure that you have Medicare Part A and B.
2. Utilise an independent agent to acquire Medigap quotes.
3. Decide on your price range.
4. Research the plans to see which one best meets your needs.

Finally simply obtain from your insurance agent the Medigap insurance plan you chose and complete the application. You will want to start the process four to twelve weeks before the effective date you want. If you need help and for more information on buying Medigap Insurance please contact an insurance agent that is independent from the insurance companies. Search the web for “Choosing a Medigap Policy” looking for the .gov sites so you can find another fantastic resource of information released by the government.