Supplemental Medicare Coverage
2014 Medicare and Medigap Updates
Supplemental Medicare Coverage
As we grow older, there is a likelihood that healthcare bills will take up a great deal of our income. As we age, our bodies get more susceptible to diseases and ailments. Also our lifestyle choices in our younger days may also impact negatively on our health, leading to lifestyle diseases and conditions such as high blood pressure, obesity, diabetes and so on. Health insurance is therefore very important. However there are some issues that are not covered by our Medicare plan and this calls for the need to seek supplemental medicare coverage.
As the name suggest, supplemental medicare coverage is meant to bridge the gap left by Medicare health policies. In some cases this affects complete coverage of some treatment costs or partial coverage. How does it help? Supplemental insurance can pay your bills in case you get hospitalized for very long time and exhaust your insurance cover. Not all treatments and prescriptions are covered by Medicare but with a Medigap policy you can comfortably pay for these. Having supplemental medicare coverage is a very cost effective way to deal with the extra tests and regular checkups that one requires as the biological clock keeps ticking.
Medigap insurance policies are offered by private insurance companies. A citizen becomes eligible for a medigap insurance policy on attaining the age of 65. It is meant to offer additional benefits to the medicare cover. Some of the treatments costs covered include hospitalization (after medicare limit has been reached), preventive care, skilled nursing care and some prescription drugs. It can also partially cover doctor’s bills.
Supplemental medicare coverage is generally regarded as secondary insurance that caters for the treatment costs not covered your governmental medicare coverage. Different insurance companies will offer policies with different premiums. The premiums mainly vary depending on the type of coverage a person is looking for, but is also determined by the specific insurance company and other factors such as type of coverage required, age of client, current health condition and the financial capability. It is very important to review the different policies offered before you choose and enroll for any supplemental Medicare coverage. This is to ensure your health security as well as help you attain the best price.
Medical bills are items we cannot really budget for as they mainly come as emergencies. We surely do not plan for them! Without supplemental Medicare coverage you are likely to have to dig into your own savings to pay for treatment if you reach your Medicare insurance limit. It is therefore advisable to seek and register for supplemental medicare coverage to cushion yourself from having to use part or all of your life savings on hospital and prescription bills.
Our Medigap website has a huge selection on good articles on supplemental Medicare coverage and we add others regularly. Please bookmark us and stay up to date on this important subject.