Why You Need a Medicare Supplement Plan

Many people have not looked into getting a Medicare supplement plan because they don’t wish to add monthly costs to their expenses. But these Medicare supplement plans are definitely advantageous for those who have Medicare. A Medicare supplement plan is designed to be purchased from a private insurance company like the insurance one had prior to having Medicare. Medicare will not pay for some expenses such as vision, hearing aids, long term care, eye glasses or nursing care one may need. Many plans do not cover prescriptions and one will have to acquire another plan for those concerns.

During your senior years, you may need some very expensive medical supplies. With Medicare Part B almost 80% of these medical needs will be covered. But the 20% left will be solely the responsibility of the patient, which can be over whelming. A  Medicare applicant must meet the Medicare Part B deductible, before Medicare will start to pay their part. This deductible can increase from year to year. If one has a Medicare supplement plan, the 20% will mostly likely cover the additional expenses.

When you purchase a Medicare supplement plan, an insurance company must accept your application whether you have a preexisting medical condition or not and may not tell you the premiums will be higher because of it. This will be true, only if you have joined Medicare Part B within 6 months of turning the age of 65. This is the period of open enrollment of a Medicare supplement plan. You can apply for a Medicare supplement plan anytime you wish, but if you wait beyond the 6 month limit, you may be denied some plans and incur a larger premium for the preexisting medical conditions, as well as, waiting beyond the 6 month time limit. Each year beyond the 6 months can increase the premiums considerably. Something one must think about now.

The multiple insurance providers will have available various Medicare supplement plans.  Those that cover wider applications will have higher premiums to cover those expenses.

If you are a person who travels abroad and finds yourself with a medical emergency, some of the Medicare supplement plans will help pay for those costs.

Having a Medicare Supplement Plans 2019 gives a person the choice to pick what will meet their medical needs. They also will be able to select a separate plan to cover their prescriptions if needed.

All of the preceding reasons should be an incentive to procuring a Medicare supplement plan.