What You Need to Know about Medicare Supplement Insurance
(San Antonio, TX)
Medicare Supplement Insurance
My parents are on Medicare, but until my mom had a procedure I didn't realize the Medicare didn't pay for everything. As a matter of fact, Medicare Part A pays for some hospital insurance coverage, but not everything.
The same goes for Medicare Part B, medical insurance. Medicare Part B pays up to 80% after deductible, but that leaves 20% of costs not covered. Twenty cents on the dollar may not seem like much to people, but when you're dealing with a hospital bill in the tens of thousands of dollars, it can amount to a big deal.
I encouraged my parents to visit their insurance agent to find out about Medicare supplement insurance. Think of supplement insurance as "filling in the gaps" not provided by Medicare coverage.
I found out that some of the most popular supplement insurance policies helped to take care of co-payments for hospitalization, pay for coverage over the 365 "allowable" days, as well as helping to take care of co-payments on doctors bills and services, prescription coverage, deductibles, and more. Check into Medigap benefits.
Since June 2010, approximately ten Medigap plans have gone into effect and provide a variety of benefits, co-insurance or co-payment options as well as payment toward deductibles, excess charges, and even preventive care. Saving money these days is a big deal, and Medicare supplement insurance can help.