Medicare Supplemental Insurance
Medical and Financial Protection for the Future
Medicare covers medical treatment, extended care, and other medical expenses. The coverage this program provides is limited, however. To have sufficient coverage and to ensure financial and medical security, many people purchase Medicare supplemental insurance. This form of supplemental insurance covers what Original Medicare does not.
At Klamath Insurance Center, Inc., we can help you match your needs with the right Medicare supplemental insurance policy. Our team of specialists will help you find a policy that is affordable and that maximizes coverage.
What is Medicare Supplemental Insurance?
Medicare supplemental insurance is often called ‘Medigap’ insurance because it helps pay the ‘gap’ between what Original Medicare and pays and what individuals pay for medical treatment and care. It prevents insured individuals from paying out of pocket costs and other large expenses
Medicare supplemental insurance covers Parts ‘A’ and ‘B’ of Original Medicare. Part A is hospital insurance and Part B is medical insurance. Parts C (Medicare Advantage plans) and D (prescription drug plans) are not covered by Medicare supplemental insurance, although in some cases prescription drug plans can be covered.
There are distinct advantages to having Medicare supplemental coverage, first of which is that it saves money. Other advantages include:
Low out-of-pocket costs
- Your medical costs are covered in exchange for monthly insurance premiums.
Choice of doctors and hospitals
- You select your healthcare providers whenever and wherever you choose and these providers are always covered. You also never need a referral to see a specialist.
- As long as you pay your premiums on time, a Medicare supplemental insurance policy cannot be cancelled and is automatically renewed.
- You may see any doctor or healthcare provider who accepts Medicare.
- Medicare supplemental insurance covers healthcare anywhere in the United States. In some cases, it even provides limited healthcare outside of the country.
Guaranteed Issue Coverage
You don’t answer questions about your health but your coverage is guaranteed. Also, you are covered under the following circumstances:
- â€‹You or your Medicare Advantage Private Fee for Service plan move out of the service area.
- Your employer discontinues its group retiree health coverage.
- You leave a Medicare Advantage plan within a year of joining and return to Medicare.
What do You Need in Order to Get a Policy?
In order for Medicare supplemental coverage to work, policyholders must have Medicare Parts A and B and must leave Medicare Advantage Plans before coverage begins. Also, policyholders must choose from one of ten Medicare supplemental insurance plans: A, B, C, D, F, G, K, L, M, and N. Plans A, F, and G are the most common and the most popular.
At Klamath Insurance Center, Inc., we will help you find the financial value and security you need from a Medigap policy. We provide coverage from plans A, F, and G and even provide discounts for eligible spouses or household residents. Our Medicare supplemental insurance policies are easy to understand and affordable.
To learn more about Medigap coverage and to find out what your policy options are, please contact one of our specialists.