Medicare insurance can be invaluable, but it does not cover everything. As a result, there are various supplemental plans available to consumers that fill the gaps in coverage — so-called "Medigap" policies. If you have not heard of supplemental Medicare insurance before or are curious about what situations it would be best for, then continue reading below for more information about three kinds of people who should definitely take advantage of supplemental insurance.
People Who Have Just Turned 65 and Already Have Medicare
Even if you are in particularly good health at the moment, there is no reason to wait to get Medigap insurance. Starting the day you turn 65 years old, you have several months to purchase a Medigap plan before things become a little less certain; you can be denied for a preexisting condition or you may be asked to take a health screen in order to determine your overall risk for certain conditions. Keep in mind that you must also be enrolled in both Medicare Parts A and B in order to purchase a Medigap plan, and that once you are 65, there are some Medigap plans for which you may not be eligible.
People Who Need Skilled Nursing Care
If you have a condition that necessitates treatment by a licensed nurse, then you may be disappointed by the limitations of a traditional Medicare insurance policy. Your coinsurance will be covered at first, but only up to one hundred days. After that, you are responsible for all costs in a given period of coverage if you do not have supplemental insurance to help cover everything. Those who are enrolled in a Medigap plan can easily save thousands of dollars a year if they require extended treatment in a skilled nursing facility.
People Who Love to Travel Abroad
If you leave your current state of residence each winter and spend a few months in a warmer climate abroad (or just enjoy frequent international travel) then you may also want to consider purchasing Medigap insurance. Medicare coverage outside of the United States is limited, and if you are injured or need sudden emergency treatment, you may be stuck in a foreign country footing a bill you cannot pay. Medigap plans, on the other hand, cover the majority of billed charges in another country — up to a certain lifetime limit — as long as you meet a small deductible.
For more information, contact a company like Mike McClure - Brightstar Insurance.