A Medicare Supplement
policy is health insurance sold by private insurance companies to fill gaps in
Original Medicare coverage. Medicare Supplement (also called Medigap) policies
can help pay your share (coinsurance, copayments, or deductibles) of the costs
of Medicare-covered services. Some Medicare Supplement policies also cover
certain benefits Original Medicare doesn't cover. If you are in Original
Medicare and you have a Medicare Supplement policy, Medicare will pay its share
of the Medicare-approved amounts for covered health care costs. Then your
Medicare Supplement policy pays its share.
When choosing a Medicare Supplements plan, you need to consider
your future as well as your current health care needs when deciding which
benefits you want and need, because you might not be able to switch Medicare
Supplement policies later. While Medicare Supplement plans are standardized,
there are still many options to choose from. This is why the American Seniors
was conceived, to make it easier for you to see which plan would best fit your
needs. Every Medicare Supplement policy must follow Federal and state laws
designed to protect you, and the policy must be clearly identified as
"Medicare Supplement Insurance. A
Medicare Supplement policy is different
than a Medicare Advantage Plan because those plans are ways to get Medicare
benefits, while a Medicare Supplement policy only supplements your Medicare
benefits. There have been many cases of medical bankruptcy in the past. Most of
them are due to lack of planning and the bad habit of “will do it tomorrow”.
That tomorrow never comes is a known truth. So do not wait and grab the
opportunity today because if your today is good , then only your tomorrow will
be better.
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