Did you know that you become eligible for Medicare Supplement Plan once you turn 65? Or that your state rules might prevent you from becoming qualified before that. Even if you are living with certain illnesses or disabilities and already on Medicare.  

Did you know that with a Supplement Plan, you no longer have to worry about healthcare costs? These are the costs that aren’t covered by your insurance?

This is just the tip of an iceberg. There’s a whole ocean of rules, policies, and options we need to know about the Medicare Supplement Plan. This will help so that we can live our 60’s without a worry in the world.

Be ready to make the most of your life. Take advantage of the healthcare benefits you get from Medicare Supplement Insurance. After this, then here’s all you need to know about it: 

Medicare Supplement is not the same as Medicare Advantage

Many think that just like Advantage, the Medicare Supplement plan is also an alternative to the Original Medicare. This is not correct.

Medicare Supplement Works with Original Medicare 

One important piece of information that we will need to know about Medicare Supplement. It works nicely as part of Original Medicare. This plan is sold by private insurance companies and covers all or some of the out-of-pocket healthcare costs.

You may be already enrolled with Original Medicare Part A and Part B. You also may incur extra medical expenses. These are becoming more and more difficult for you. You can easily apply for Supplement Plan via a private insurer.

Supplement Plan Coverage

Medicare Supplement covers any gap in the insurance that Original Medicare doesn’t cover, and hence often referred to as Medigap.

The very reason Medigap was created was to help individuals with the costs associated with Original Medicare. These are expenses such as co-insurance, deductibles, and co-payments, and 20% service charges. A Medicare Supplement plan can cover all or some of these costs for you.

There are multiple Medicare Supplement Plans with different coverage, benefits, and costs.

You Can Increase Your Chances of Acceptance

There’s a trick to getting a guaranteed acceptance for Medicare Supplement Insurance, and it all depends on your timings.

If you are already enrolled in Original Medicare Part B, then from the month you celebrate your 65th birthday, your 6-month Open Enrollment period begins.

This is the perfect window to apply for it, as it gives you guaranteed acceptance, regardless of your medical condition.

You are eligible to apply for it at any point after you turn 65. You must be enrolled in both Part A and Part B of the Medicare program. But, your chances of acceptance are not guaranteed.

That said, some states have an ongoing Open Enrollment, and the residents have a guaranteed chance of acceptance at all times.

Costs

It is best to find out the cost of the plan and figure out your finances to pay for it before your turn 65 because the Open Enrollment window is short, and you do not want to miss it.

The cost is different in different states; you can find the cost of Medicare Supplement in your respective state from Medicare.gov. The lowest plan is in Los Angeles, California, and the highest cost of the plan is in West Palm Beach, Florida.

Pros of Choosing

It is smart to do your research, look into your options, and ask yourself if a certain insurance policy is better than then the other.

When choosing the Medigap Policy, you might wonder why you are going for it, instead of the many other alternatives, with a cheaper cost. The answer is the advantages your get in return for the higher premium.

Here are some of the standout features of Medigap Policy:

  • Nationwide coverage
  • No referrals needed to see a medical practitioner
  • You can go to any medical provider in the country who accepts Medicare coverage
  • Predictable costs
  • Your plan is guaranteed to renew every year, and you won’t be canceled ever. The only exception to that rule is when you forget to pay your premium.

There are many rules, policies, and details involved with it. You can do your research and learn it all on your own, or you can just relax and consult an expert to take care of it. If you choose the latter path, know that United Insurance is here to answer all your questions and help you find the best Medicare Supplement plan for yourself.