There are many pluses with a Medicare Supplement (Medigap) policy. Let’s look at a few factors that might influence your decision when considering these plans.
A Medicare Supplement (Medigap) plan helps pay your portion of Medicare costs such as Medicare copays and coinsurance. Most seniors on Original Medicare end up getting some sort of supplemental plan such as Medicare Supplement (Medigap). It is important to obtain a Medicare Supplement (Medigap) plan during your Medicare Supplement (Medigap) open enrollment period because you do not need to medically qualify. Individuals with certain health conditions who wait to enroll past the Medigap Open Enrollment Period may have trouble securing a Medicare Supplement policy. It is also required that the participant be enrolled in both Part A and Part B to be eligible for Medigap.
Medicare Supplement (Medigap) can save you a great deal of money in the long run.
For some, a Medicare Supplement (Medigap) policy may seem unaffordable due to a small additional monthly premium in addition to your Part B premium payment.
However, for those who choose a Medicare Supplement plan, this small monthly premium cost is worth the coverage provided. In fact, this plan can actually save you a great deal of money in the long run since it covers your Medicare copays and coinsurance which can be 20% or more of a bill.
Put simply, a Medicare Supplement plan offers security against major unforeseen circumstances and provides a guaranteed-renewable form of protection that offers peace of mind to those who purchase.
Medicare Supplement (Medigap) plans also offer you the freedom to choose your own physician or medical service provider (as long as they accept Medicare) without the restrictions of a specific network, as with a Medicare Advantage plan. Even if you are traveling far from home, you will be covered by any provider that accepts Medicare. Not only that, but coverage is generally standardized across the country, meaning that most insurance providers will offer the same coverage as required by law, and you can feel safe knowing that if you travel throughout the U.S., there are providers available that take Medicare.
Security when you need it and flexibility when you want it – for countless Americans, Medicare Supplement insurance is the right choice. To find out if this is right for you, contact The Benefit Link to discuss your options today.
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