Essential Things You Need To Know About Medicare Supplement

Medicare Supplement Insurance, famously known as Medigap, is a health care insurance plan that you can buy to supplement your Original Medicare. The main purpose of Medigap is to cover all the costs of your healthcare that are not covered by the Original Medicare that includes healthcare while traveling outside the country, co-payments, and deductibles. If you only have the original medicare insurance policy then you are not maximizing your insurance benefits. It would be better to start checking on the medicare supplement insurance in Philadelphia—the plans and why you should get one for yourself. 

 

Know that only specific people are eligible for a Medigap policy.

1.Individuals with medicare parts A and B

 
 If you want to be eligible to buy a Medigap policy, you need to already have Medicare parts A and B. Both parts A and B will cover the hospital costs and services of the doctors, while the Medicare Supplement Insurance Plan fills in the gaps.

 

2.U.S citizens

 
 To get a Medicare Supplement Insurance, you need to be either a US Citizen or someone who has been a permanent legal resident for at least five years. 

Remember that Medicare Advantage plans are different from Medigap and you also cannot have both plans at the same time. If you want a Medigap plan, you will have to give up your medicare advantage plans. 

Medicare supplement insurance plans are guaranteed renewable. Therefore, as long as you are paying the premium, your insurance company cannot cancel your Medigap plan. Know that the medicare insurance supplement plan does not offer lifetime maximums. For example, you may claim an amount from your policy infinite times due to your heart problems or other health-related issues, the plan will stay with you. 

Though your Medicare Supplement Insurance Plan will not cover everything, it is one of the important things that you, as an aging adult or retiree, should not forget to invest in to safeguard your financial security and health. So make sure to choose a Medigap plan by assessing your needs, looking into the best medicare supplement insurance companies and then come up with a smart decision.