Another name that people can recognize with the term Medicare Supplemental Insurance is Medigap insurance since it is intended to fill gaps in an individual’s primary coverage through Medicare. Qualification for a Medigap policy usually required that the applicant has Medicare before Parts A and B. It is a type of insurance for anyone around the age of 65.  It is used to cover the gaps that Medicare doesn’t cover entirely which can be very enticing to some.

Before engaging in this plan, it is important for you to remember these 5 facts.

1. 10 Standard Options

Throughout the United States, there are 10 standard options for Medicare Supplement Insurance. Each plan has different benefits so it is of your best interest to find the plan that suits your current needs. These plans are A, B, C, D, F, G, K, L, M and N with plan A offering the minumim list of benefits and plan F offers the largest amount.

The interesting thing about the Medigap Supplement Insurance market is that the accessibility of brokers who are ready to help you decides what plan best suits your needs. You can still apply for a Medicare Supplement with a new brokerage of a new insurance no matter your previous coverage.

NOTE: Be sure to do research before committing to any plan. This is because only a few companies carry all 10 plans. So, be careful not to fall into this trap.

2. Enrollment Time Frames
   

There are a few states like Missouri and California that allow enrollment windows to Medigap beneficiaries every year. Its a good idea to look into your own state, most others have different rules. Generally you can apply for a supplemental policy when around your 65th birthday. If looking for additional information about enrollment take a look at our  Medicare Supplemental Insurance Open Enrollment page.

3. Need For Coverage
   

First on your to do list is to figure out that you need this coverage. Once you verify that your Medigap insurance doesn’t include all your medical bills, you will easily discover the things you need no matter which individual insurance company you sign up with. Basically, the main qualification will be the service that they render and the premium that you will be charged for. Look over our Medigap guide page for more information.

4. Medicare Policy

One thing you need to always remember is that your Medicare policy will not cover your life partner/spouse. Buying two separate policies is a must if you both need coverage. This is quite confusing because using past traditional insurance it did cover spouses.

5. Premiums

Insurance companies have three individual ways to calculate and set the premiums. Those who use attained age as a basis have the lowest premiums. This is especially valid for the individuals who have just became the age of 65. You will see premiums increase normally every 3 – 5 years, in addition to the inflation rates.

Depending on your age at the time of the purchase, issue age premiums will fluctuate. The main increase for this type of plan is because of Medicare’s inflation adjustments. Another reason, Medicare supplemental insurance rates that use the community-rated technique indicates that everyone in the same region will pay the same premium, paying no attention a persons age. Many states, however, make use of only one method, so it is helpful to research and find out how the insurance companies calculate their rates.

For a free Supplemental rate call us at 877-202-9248 or feel free to browse our website at www.eMedicare-Supplemental-Insurance.com