Frequently Asked Questions about Medicare Supplement Insurance

You are finally eligible for Medicare, and everyone tells you to be sure to select supplemental insurance. What do you need to know as you review the various plan options? Here are some of the frequently asked questions as you consider which option will be best for you.

What is Medicare supplemental Insurance? Often referred to as a Medigap, these plans help to pay some or all the deductibles, copays and coinsurance not covered under Medicare. This is private health insurance sold by insurance companies. Doctors, healthcare professionals and hospitals who accept Medicare consider these plans to be the Cadillac level of coverage and should allow you to retain your preferred providers.

Are there different types of supplemental plans? Yes, each plan has different levels of coverage, so selection is normally based on your individual needs and budget. Sometimes referred to as the lettered plans (F, G, N, etc.), these options are standardized. It can make it easier to compare the insurance company rates for the plans which are available in your area. Not every plan is available in every state however all plans will have the same basic level of coverage.

When am I eligible to purchase supplemental insurance? The best time to enroll is when you are first eligible for Medicare or enrolled in Medicare Part B. This is when you are considered a guaranteed issue which means the insurance companies cannot require medical underwriting to approve your application.

We are just a phone call away from helping you navigate your various options and find supplemental insurance that meets your needs.