By B. Loughead
Although
Medicare supplement insurance has become an extremely popular topic of
discussion, there are certain misconceptions about it that everyone
needs to be aware of. There are 4 facts about this insurance that need
to be taken into consideration before you sign up for any particular
plan.
Fact #1: Medicare supplement insurance costs will vary from one carrier to the next - despite the fact that these plans are identical, regardless of who you purchase them from, the cost of your premium will vary from one insurance carrier to another. So be sure that you shop several companies before committing to buy. No insurance carrier is required to offer all 12 plans so one insurance company may try and talk you into the plans they sell when another plan may be what you actually need.
Fact #2: No matter who you purchase Medicare supplement insurance from, it is the same coverage - this insurance covers the gaps found in Medicare. There are different levels of benefits provided by this comprehensive 12-plan program labeled as Part A through Part L and many private insurance carriers may provide one or more of them. However, no matter who you purchase these plans from, the coverage will be identical. So if a company tells you that their plans offer certain unique benefits over other companies, don't believe them.
Fact #3: Only one Medicare supplement insurance plan is needed - according to the law, you only need one supplement insurance plan. You can easily cover the gaps in your Medicare coverage by purchasing Medigap insurance. So if Plan D covers your specific needs, you will not need to purchase any other supplemental plans. As it currently stands, trying to sell you additional plans is illegal according to the Federal Government.
Fact #4: You are the only person who can be covered by a Medicare insurance policy - your Medicare policy covers you and no one else, unlike traditional insurance policies that oftentimes include coverage for your husband or wife. Married couples have to purchase individual policies should they want Medicare coverage. So if a private insurance carrier tries to tell you that you can purchase a Medicare insurance policy that covers both of you, they are not on the level and you should keep shopping other providers.
In closing, remember that up to 80% of some hospitalizations, equipment, and treatments will be covered by Medicare. The exact amount will be determined by whether you have Part A only or Part B as well. Choosing the right medicare supplement insurance policy will determine if you are covered 100%.
Fact #1: Medicare supplement insurance costs will vary from one carrier to the next - despite the fact that these plans are identical, regardless of who you purchase them from, the cost of your premium will vary from one insurance carrier to another. So be sure that you shop several companies before committing to buy. No insurance carrier is required to offer all 12 plans so one insurance company may try and talk you into the plans they sell when another plan may be what you actually need.
Fact #2: No matter who you purchase Medicare supplement insurance from, it is the same coverage - this insurance covers the gaps found in Medicare. There are different levels of benefits provided by this comprehensive 12-plan program labeled as Part A through Part L and many private insurance carriers may provide one or more of them. However, no matter who you purchase these plans from, the coverage will be identical. So if a company tells you that their plans offer certain unique benefits over other companies, don't believe them.
Fact #3: Only one Medicare supplement insurance plan is needed - according to the law, you only need one supplement insurance plan. You can easily cover the gaps in your Medicare coverage by purchasing Medigap insurance. So if Plan D covers your specific needs, you will not need to purchase any other supplemental plans. As it currently stands, trying to sell you additional plans is illegal according to the Federal Government.
Fact #4: You are the only person who can be covered by a Medicare insurance policy - your Medicare policy covers you and no one else, unlike traditional insurance policies that oftentimes include coverage for your husband or wife. Married couples have to purchase individual policies should they want Medicare coverage. So if a private insurance carrier tries to tell you that you can purchase a Medicare insurance policy that covers both of you, they are not on the level and you should keep shopping other providers.
In closing, remember that up to 80% of some hospitalizations, equipment, and treatments will be covered by Medicare. The exact amount will be determined by whether you have Part A only or Part B as well. Choosing the right medicare supplement insurance policy will determine if you are covered 100%.
Summit Medigap is an independent insurance agency that specializes in Medicare supplement insurance. We make Medicare seem easy™. For more information about Medicare supplement insurance visit http://www.SummitMedigap.com/
or call us at 1-888-40-Summit (888-407-8664). We have helped many
people in Florida, Georgia, North Carolina, South Carolina, Michigan,
Texas and Colorado to name a few.
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