When people qualify for Medicare, they do not always think about purchasing supplemental insurance. Although it is not mandatory to have a secondary insurance policy with Medicare, there are definite benefits to choosing a Medicare Supplement. These plans are frequently called Medigap. A valuable resource for finding and comparing available plans is 1-800-MEDIGAP or toll free 1-800-633-4427.
The Original Medicare Plan
Medicare is the national health plan designed for seniors and for the disabled. All citizens customarily receive Medicare when they reach age 65. Everyone automatically receives Part A, which is the hospital insurance coverage for approved inpatient care. There is no cost for Part A. Most people also receive Medicare Part B where the premiums are generally deducted from their Social Security benefits. Part B covers other medical needs such as doctors’ visits and other health care services and supplies. Patients are also responsible for the costs that these plans do not cover. These costs include deductibles, co-payments, co-insurance and certain other services.
The Role of Medicare Secondary Insurance
A person's primary health insurance pays the normal or approved costs. Medicare coverage is generally considered the primary insurance. A secondary insurance is then used to cover the extra costs not paid for by the primary insurance. There are different forms of secondary insurance. For example, if a person on Medicare is covered by an employee plan or a by spouse's plan, that would be their secondary insurance. Retirees sometimes receive insurance as part of their benefit plan. Under certain circumstances, Medicaid may also serve as a secondary insurance.
Finding Medicare Supplemental Insurance
Persons not covered by other types of private plans may choose to purchase a Medicare Supplement often referred to as Medigap. A person must have both Medicare A and B to be able to purchase this type of policy, which is approved by Medicare and issued by a private insurance company. Medicare Supplemental Insurance must follow basic Federal and state laws, but they may also offer other additional coverage. Prices can vary widely, even for the same plan, so it is wise to compare the available options carefully before purchasing a plan. Call: 1-800-MEDIGAP or 1-800-633-4427 toll free.