What are Medicare Supplement Plans?

As you near your 65th birthday, you have a lot of choices to make. You need to decide if you want Medicare Part A and Part B, but you also need to determine if a Medicare Supplement plan is necessary. 

At Senior Insurance Representatives, we know it can be confusing. With many insurance plans, different letters, and premiums all over the place, it can be overwhelming. We are here to help you through the process, helping you choose the best Medicare Supplement plan that suit your needs. 

What Does a Medicare Supplement Plan Cover?

Medicare Supplement plans cover the expenses Medicare Part A and Part B don’t cover. They cover your out of pocket expenses, but only to a certain extent. Don’t assume if you have Medigap that you won’t pay anything out of pocket. Each plan has its coverage limits. 

Each insurance agency has different plans, based on what they will cover. The most common types of coverage include:

  • Help with copayments after Medicare Part A and Part B pay their part
  • Help with deductibles from Medicare Part A (hospital coverage)
  • Help with Medicare Plan B excess charges 
  • Help with Foreign Travel Emergency coverage costs
  • Help with Medicare Part B copays and coinsurance

Who is Eligible for a Medicare Supplement Plan?

You are automatically  eligible for a Medicare Supplement plan during the month you turn 65 years old, and it lasts for six months. This is the best time to buy the policy as you’ll get the best prices and guaranteed coverage regardless of your health condition. If you wait, you may get turned down or pay higher premium prices due to health conditions, both past and present.

At Senior Insurance Representatives, we help you understand when your Medigap open enrollment period starts and ends. We’ll advise you on the best options available, given your health and financial status, taking the confusion out of the process for you. 

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How Do I Pick A Medicare Supplement Plan?

Choose your Medicare Supplement plan based on two things:

  • Price (premiums)
  • Coverage

Don’t assume that premiums are the same at each insurance company. For example, say Plan G, you may find different premiums with two different insurance companies but they offer identical coverage. Even for identical coverage, say Plan K, for example, you may find different premiums at two different insurance agencies.

Pay close attention to what the plan covers, as well. You will pay a premium for the best Medicare Supplement plans, so make sure you get a policy that covers what you need. For example, if you know you’ll have a lot of tests, you’ll want a plan that helps with Medicare Part B copays, and not all plans offer it.

How do I Enroll in a Medicare Supplement Plan?

At Senior Insurance Representatives, we make it easy to enroll in a Medicare Supplement Plan. Whether you’ve already enrolled in Medicare Part A and Part B or you need help, we are here for you every step of the way. We’ll help you sign up for Medicare and help you determine the best Medicare supplement plans that provides you with the least amount of out of pocket expenses. Call us today at 1-800-327-7888 to get help with your Medicare insurance needs.