Archive for the ‘medicare supplemental plans’ Category

Compare Medicare Supplemental Plans Before Deciding

Monday, June 21st, 2010

Many senior citizens would be unable to afford medical coverage if it weren’t for the Medicare program. Medicare is a program that is offered by the federal government and it helps to supplement your medical expenses in many different ways. There are a number of different types of Medicare plans that you can choose from, and each of these is going to have its own benefits. For most people, however, they choose Medicare part A and part B because it gives them coverage for hospitalization and their general medical expenses. It may still be necessary for you to supplement your Medicare in some way or another, and you should compare Medicare supplemental plans before making your final decision.

Fortunately, you’re not going to need to be concerned about checking with different insurance agencies whenever you compare Medicare supplemental plans. The reason why this is the case, is because the Medigap policies (Medigap is the name for Medicare supplement insurance) are standardized and they are regulated by the state. If you choose one particular Medigap policy at one insurance agency, you’re going to receive the same exact coverage from any other agency which offers the same plan. This makes it very easy for you to look at a chart and to choose the one that is right for you, not having to worry about the agency that you go with.

Of course, it would benefit you to look at various agencies when you compare Medicare supplemental plans, simply because the prices that they charge are not going to be standardized. As a matter of fact, you’re going to find a considerable variation in the amount of money that you will spend on these various policies. Although some insurance agencies are going to try to convince you that their policy is a little bit better in some way or another, it really comes down to the bottom line. Remember, there is no variation in the coverage from agent to agent.

Of course, you would want to take a good look at the different options that are available under these various plans. When you compare Medicare supplemental plans in this way, you will find that some of them are going to cover things that you will need while others will also cover items that will not be necessary. If you choose wisely, you will be able to be covered for the majority of your out-of-pocket expenses not paying too much for your premium.

Compare Medicare Supplement Plans

Saturday, June 12th, 2010

Medicare has really been of benefit to many individuals who need insurance coverage but were unable to afford it. It is run by the federal government and it covers individuals who have reached 65 years of age or individuals of any age who have end-stage renal failure. Even with this insurance, it can be difficult for you to afford the additional costs that may come up as a result of your regular doctor’s visits and hospital stays. These often come as a result of annual deductibles that need to be met, along with copayments that are attached to the Medicare policy. Some type of supplementary insurance policy may be necessary and you can compare Medicare supplement plans rather easily.

Medicare supplement plans are available in something that is known as Medigap. It is rather aptly named, as it helps to cover the gap that was left by the extra expenses through the Medicare policy. These supplementary programs are available through independent insurance agencies and they are not available through the federal government. That is why it may be necessary for you to do a little bit of comparison shopping in order to save money. What is not going to be necessary, however, is for you to compare policies because of differences that exist from agent to agent.

The reason why this is the case, is because the Medigap policies are standardized so you’re going to receive the same coverage, regardless of which insurance company you happened to go with. These policies are regulated by the states, so there is no variation at all. The reason why you would compare Medicare supplement plans, however, is because you have several to select from. Each of these plans is going to provide you with various types of coverage and it may benefit you to choose one over top of another.

Another reason why you might want to compare Medicare supplement plans is because of the fact that each individual in your family is going to have to have their own policy. If you and your spouse are both covered under Medicare part A and part B, you are still going to need your own Medigap policy. Although this may seem a little bit inconvenient, it can actually benefit you in many ways. One of the main reasons why this is the case is because you may need different coverages for your policy than what your spouse needs.

Medigap Plans – A Nice Way To Stay Secured During The Golden Years

Monday, May 10th, 2010

When one turns 65 years of age and/or retires from work, the first thing to consider is an insurance plan.  Most retired consumers would go with the Medicare Original policy, and it is indeed a good decision, considering potential illnesses and physical concerns that one may encounter once retired.  Most major illnesses are covered by the Medicare Original policy, but what is one to do when a certain type of illness is not covered, or a certain amount of money is required but not covered by Medicare Original?  That’s where Medigap plans come in.  If you’re wanting to save more money and fill in the gaps, it would be a good idea to consider Medigap plans, as they help fill in the gaps, as implied.  If you have taken advantage of Medicare Original and are wanting more, Medigap plans are sure to provide not only ways to save money, but also additional coverage that would bring things closer to the plan you really desire.

Medigap plans come in twelve different varieties, ranging from A to L, with different levels of coverage to suit your needs.  New laws have been passed, though, and certain Medigap plans (E, H, I and J) are set to be phased out as the current structure makes said plans redundant.  Two new plans (M and N) are set to take effect on June 1, 2010, which is also when E, H, I and J are to be phased out.  It is always prudent to consult with a Medigap plan advisor before requesting for a plan, so you can take advantage of the proper level of coverage.  Lists of Medigap plan advisors are accessible on the Internet, or you can also go to websites like for the latest and most updated information.

Since Medigap plans are required to follow Federal and State laws, there will naturally be limitations to what you can and cannot take advantage of.  And for those who are married, spouse’s Medigap plans would need to be purchased separately.  Such limitations are understandable, as there is no such thing as a perfect insurance plan, and these laws have been created with the best consumer interests in mind.

There is no doubt about it, insurance is very important for those “Golden Years”, the years spent relaxing after a long career in the industry, and the years enjoying one’s retirement.  Emergencies are naturally almost impossible to predict, but having a good insurance plan alleviates a lot of concerns along the way.  But having a Medigap plan present is sure to, at the very least, help you save more money in the long run, or take advantage of benefits not otherwise covered in a standard Medicare policy.

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