What is Medicare Supplement Insurance?Medicare supplement or Medi-gap plans were designed to fill the gap in your medical coverage left by Medicare. You need a Medicare supplement to provide peace of mind, knowing that if the unexpected happens, you won’t have your credit ruined because of unpaid medical bills. Medicare is responsible for 80% of total care which leaves you responsible for 20%. These are based off of medicare approved charges.
Medicare supplements take care of things like co-payments, deductibles, and coinsurance that you are responsible for, and some plans even cover you if you travel outside of the United States. Medicare is responsible for 80% of total care which leaves you responsible for 20%. There are 10 standardized Medicare supplements Plans (A, B, C, D, F, G, K, L, M and N) and one high-deductible plan. Most Medigap plans are guaranteed renewable for life meaning that if you pay your premium, you are covered and cannot be denied coverage because of any health issues or because of your age. Once your Medicare plan has paid its part, your Medigap coverage will pay most of what’s remaining for any Medicare-approved charges. You can see any doctor that participates in Medicare, too, which is one of the best features about Medigap plans. Reasons to purchase a Medicare supplement policy
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