Medicare provides health insurance coverage to people who are aged 65 and above or who meet other specific criteria in the insurance program
. It covers the medical and hospital insurance and prescription drugs.
Medicare Supplemental Insurance or Medigap insurance are insurance policies that offer coverage for health costs that are not or only partly covered by Medicare. They are offered to existing Medicare holders six months after they get their benefit from Medicare.
Supplemental Insurance
Even though Medicare includes coverage of costs such as medications, medical procedures and hospitalizations, it does not include each and every expense that a senior citizen has to bear. This gives rise to the need for a supplemental insurance that covers the health care expenses that are not met by Medicare. Senior citizens can purchase Medicare Supplemental Health Insurance for meeting these extra expenses which otherwise would burn a hole in their pockets.
Enrollment
Always remember that the period is restricted to six months within which you have to apply for the Medigap policy otherwise the company may charge you extra or may even deny you coverage. So you have to purchase it during your Medigap open enrollment period which starts on the first day of the month when you turn age 65 or older and you are enlisted in Medicare Part B.
The Part B covers costs that the regular Medicare program does not include in its coverage like X-ray and lab tests, office visits and other procedures which do not come under hospital visits. The insurance companies will not be able to charge you any additional costs due to the presence of any medical problems.
You can check with the various insurance companies for information on the Medigap enrollment period and quote so as to ensure that you make the right decision.
Understand Individual Insurance Plans
Senior citizens need to understand the individual insurance policies thoroughly to ensure the effectiveness of insurance plans along with Medicare. Concessions are usually given to group insurance plans and not to individual insurance plans. So decide whether you want to go for a private individual plan or be part of a group insurance plan.
Determining Your Personal Fitness
You should purchase the Medicare Supplemental Health Insurance only after determining how much coverage you need. So understand what is covered in each plan and assess your medical history with the coverage in each plan. Visiting a physician will give you an insight into your health. But the future is unpredictable, so let us hope for the best and purchase a Medicare supplemental insurance.