Medicare Supplement Insurance

Medigap Insurance:  Why Do You Need It If You Have Medicare?

Is Medicare confusing to you? Have you figured out what Medicare will cover and when you will need Medicare Supplement Insurance to pay your medical bills? Medicare's benefit periods, co-insurance, co-pays and deductibles make it hard for many people to understand how much Medicare Supplement Insurance can save them in out-of-pocket costs.

The Different Medicare Supplement Insurance Plans

Medicare Supplement Plans M and N became available in June and their premiums are lower than some of the previously available Medicare Supplement Plans. That doesn't necessarily make either of them the best plan for everyone, though.

If you're paying for the Medicare Part B co-pays and deductible, all 10 of the Medigap Plans cover co-pays to see a doctor or go to the emergency room. Medigap Plans C and F will reimburse you for the $155 Part B deductible.

Medigap Policies can also help if your doctor charges more that the pre-approved amount Medicare will pay for procedures. That's called Part B excess charges and plans F and G pay all or 80 percent of those excess charges. Other Medigap Policies can help with hospital charges, too.

Medicare Supplemental Health Insurance is even more important when you are admitted to the hospital. That's because you must meet Medicare's Part A deductible of $1,100 per illness before Medicare pays for hospital charges. Medicare Supplemental Health Insurance can pay that deductible for you.

Medigap Insurance pays for even more than that deductible. It also covers the Medicare co-insurance charges if you have to stay in the hospital for more than 60 days. With Medigap Insurance you can get the hospital care you need without being overwhelmed by the expense.

Medigap coverage can protect your health and your retirement savings when you need either doctor or hospital care. It can also help with care in a skilled nursing facility when you leave the hospital. Medigap coverage can pick up the charges after comprehensive Medicare coverage ends.

Medicare Supplement Insurance can extend your rehab in a skilled nursing facility so you're ready to take care of yourself when you do go home. That reduces the chances that you'll have to be readmitted to the hospital. With Medicare Supplement Insurance, you can rebuild your strength and stamina to regain your independence.

To get the best Medigap Insurance for your situation, ask yourself what medical bills you're likely to have in the next couple of years. Whatever plans relieve you of most of that burden are going to be the best Medigap Insurance for you. To help you get the right coverage, you can select from 10 different plans.

Medigap Plan F and Plan N

Medigap Plan F is the most popular plan and it offers the most complete coverage. That also means premiums for Medigap Plan F will be higher than those of most other plans.

At the other end of the spectrum, the new Medicare Supplement Plan N pares down coverage and offers one the lowest premiums. Even with lower premiums, Medicare Supplement Plan N still helps with the really big gaps in Medicare, such as hospitalization.

Nearly four million seniors are Humana Medicare Supplement members. Humana is a leader in insurance today, but it began as a nursing home in 1961. With a Humana Medicare Supplement, you'll benefit from nearly five decades of healthcare experience.

Medigap comparisons can show you all the different combinations of coverage available so you can get help with the expenses you have without paying for the benefits you don't need. It's also important to check Medigap comparisons between insurance companies, which can charge different prices for the same plan.

What About a Medicare Advantage Plan

Have you thought about replacing your Original Medicare coverage with one the Medicare Advantage Plans? Premiums for these plans are expected to rise as their government subsidies are withdrawn. Unlike Medicare Advantage Plans, Medigap plans continues to offer lower premiums.

Where to Turn for Help

If you would like more information on Medicare Supplement insurance, Medicare Advantage plans, Part D Rx, or any other medigap related services, we recommend Medigap Advisors.  They have great information on their website about all the different types of Medigap insurance.  You can also run online quotes and set up an appointment with a qualified Medigap Advisor to discuss your needs.