Many people are unsure about what Medicare Supplement Insurance is or whether they need it or not. Medicare Supplement Insurance, known as a Medigap policy, is insurance that helps fill “gaps” in original Medicare and is sold by private insurance companies. Original Medicare pays for quite a bit, but not everything. A Medicare Supplement Insurance (Medigap) policy can help you pay some of the health care costs that aren’t covered, such as copayments, coinsurance and deductibles. Some policies will even cover things not covered by Medicare like medical care outside of the U.S.
If you have Original Medicare and buy a Medigap policy, Medicare will pay its share of the approved coverage and then Medigap will pay its share. This way you can be sure you are covered in all scenarios where you need health care coverage.
A few things to keep in mind when choosing a Medigap policy are: you must have Medicare Part A & Part B in order to apply for Medigap. A Medigap plan will supplement your original Medicare benefits and you will pay a private insurance company a premium in addition to the premium you pay to Medicare. You can only buy a Medigap policy from an insurance company that is licensed in your state to sell one and these policies have a guaranteed renewal even if you have health problems as long as you pay the premiums.
United Allstar Advisors LLC has years of experience with the ins and outs of Medicare and Medigap Supplemental Insurance. It can be a little complicated to navigate, but we are committed to helping you get the coverage that will be the best fit for you. Talk to anUnited Allstar Advisors LLC agent today and let us answer all your questions regarding Medicare Supplement Insurance and help you choose the policy that makes sense for you.
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Talk to an United Allstar Advisors LLC agent today and let us take all the worry and stress out of choosing insurance and retirement solutions that work for you. We have years of experience helping people choose the best health insurance Medicare and retirement plans for their needs. We’re dedicated to helping you find your perfect solution.