What Medicare Supplement Insurance Plans Cover

Medicare Supplement health insurance plans help to cover cost-sharing that is not covered by Original Medicare. This includes co-payments, deductibles and specialized health care (such as if you are traveling outside the US).

The costs and benefits associated with a Medicare Supplement plan depend on the type of plan you select. Check if you’re eligible for a Medicare Supplement plan.

You can apply for the Medicare Supplement Plans if you are 65 years old or older. All you need to do is get enrolled in Medicare Parts A and B. The one-time, 6-month Open Enrollment period kicks off on the first day of the month the individual turns 65 and is enrolled in Medicare Part B. Those who are under age 65 and are enrolled in Part B may be ineligible for a  Medigap policy.  Federal law does not require insurance companies to sell Medigap to people under age 65. In some states, Medicare Supplement plans are available for people under age 65 with disabilities.

Supplemental dental insurance policies, help you pay for costly dental procedures that are not covered by Original Medicare. Find out from your prospective insurance agent the policy options and premium costs. Whatever you decide, you will almost certainly be paying far less out of pocket as an insured patient than an uninsured one.

Well, it’s always better to discuss your needs with your licensed insurance agent before you purchase a plan.

The process of picking the right plan from a Medicare Supplement insurance company starts with researching the agent. When it comes to Medicare Supplement, there are many insurance agents who can sell to you, and there are many reasons why you might prefer one over another. A good insurance agent will,  after assessing your needs, come up with a plan for you that fits your financial situation and your needs. When looking to find a Medicare Supplement policy, ask questions such as:

• Does the plan provide extra coverage?
• Does the plan cover out-of-pocket expenses including co-payments, co-insurance? What is the deductible?
• Can the plan help me with Part B excess charges when I see doctors who don’t accept Medicare payment terms?
• Does the plan offer overseas coverage (if applicable)?
• Does the plan have a high deductible?

Prior to choosing the agent, it’s important to understand how the price structure of these plans works. Medicare Supplement plans generally have monthly premiums associated with them. Insurance agencies that sell Medicare Supplement coverage may label the prices for the plans differently. But as you need the Medicare Supplement plan that suits your financial condition and healthcare needs, know the three types of premium-pricing methods around:

• Issue-age rated: premiums are based on your age when you enrolled.
• Community-rated:  the same monthly premium is charged to everyone who has the Medigap policy, regardless of age.
• Attained-age rated: premiums are based on your current age, so they increase as you get older.

To find more about Medicare Supplement Policies in Texas, visit our link