Simplified Insurance Solutions, LLC Blog
You may get Medicare Supplement Plans, also referred to as MedSup or Medigap, through a private insurance company. While they act as supplemental medical coverage to Original Medicare, they are not comprehensive.
In 47 states, the Medicare Supplements come in 10 standardized plans, each with a designated letter. No matter where you buy your Medigap, the same letter plan provides the same benefits. Wisconsin, Massachusetts, and Minnesota implement their own standardized plans.
Basic Benefits Of Medicare Supplement Plans
These MedSup plans typically do not cover hearing aids, long-term care, dental, or vision. However, all plans have to cover certain parts of the following benefits:
There are also additional basic benefits from some plans. Plan F, for example, which is considered the most comprehensive standardized plan in Medicare Supplement plans, offers these benefits:
Even though the Medicare benefits are standardized, the costs vary depending on your location and your insurance company. So, for example, Medicare Supplement Plan G offers the same coverage regardless of the place where you purchase it, the premium that you will pay depends on your insurer. Also, not all states offer all standardized lettered plans.
Medicare Supplement Enrollment Period
The ideal time to sign up for a MedSup plan is during the open enrollment period. This comprises of a six-month period that begins on the month of your 65th birthday. You also need to have Part B first. You will not be denied or pay more if you apply during this period.
On the other hand, you are less likely to get accepted or you may need to undergo the process of medical underwriting if you enroll for a plan in another time.
If it is the right time for you to apply for a Medicare Supplement plan, make sure to compare the policies and talk to an insurance agent about it.
At Simplified Insurance Solutions, we do our best in making sure that our clients are well-protected with affordable and comprehensive policies. We make sure to go the extra mile to help you with your needs. To learn more about how we can help you, please contact our agency at (888) 340-7633 or Click Here to request a free quote.
2/3/2022 06:44:15 pm
Hi there! I could have sworn I’ve been to your blog before, but I realized it’s new to me after browsing through some of the articles. Regardless, I’m definitely happy I stumbled upon it and I’ll be bookmarking it and checking back frequently!
3/27/2022 03:17:27 pm
It's amazing how a medical insurance supplement program can help you financially on things that are not covered by your insurance. My friend talked about how she wants to help her aunt on her retirement, but she's not sure how. I think she should consider this option for her in the future.
Leave a Reply.