People who are 65 years or older have Medicare for their primary health insurer. Part A of Medicare covers hospital care and part B covers the doctor’s coverage. There are, however deductibles and co-payments that Medicare does not cover, and that is why people purchase Medigap or Medicare Supplemental coverage.
Medicare supplement insurance policies are sold to people by private insurance companies, not by the government. These policies are designed specifically to work with Medicare, and cover all of the holes that Medicare does not cover. Such things as deductibles and co-payments that normally the patient would have to pay, are picked up by the insurance company. There are ten different plans for Medicare Supplement coverage, and you should become familiar with the plans that will affect you and your situation as closely as possible. The best way to do this is through an agent or a reputable site like Medicaresupplementquotes.net, where you can do research and get quotes for all the Medicare supplement plans.
Medicare supplement policies work by picking up the cost for the difference in what Medicare pays, and the actual bill from the doctor and the hospital. This is a wonderful plan because we don’t always know the amount for which we are to be billed, and it is good to have this information in advance.
In order to qualify for a Medigap policy, a person must be 65 years of age or older, and must have qualify for Medicare Part A and Medicare Part B. The policy is sold by a private insurance company and the applicant can apply without evidence of insurability if purchasing before January 1, 2014. Medigap policies only cover one person at a time, so for a husband and a wife, they must purchase their own Medigap policy if they wish to be covered.
There are ten different ‘flavors’ of available policies, so you always will want to compare pricing from company to company. Once the policy is in place, the insurance company cannot cancel you unless they cancel all of the policies that the company has in your state, although they can raise the price.