When a person in America turns 65, he or she, automatically become eligible for the Medicare insurance plan which has been offered by the federal government. The Medicare pay up to 80% of the total expenses of the person’s medical and health-related bills. This also qualifies for the other senior health insurance programs like Medicare supplement insurance and Medicare Advantage plans. The Medicare has been divided into different parts. The original Medicare only covers the expenses come under the Part A and Part B. The government pays the coverage from social security and tax collected from the people. You have to privately purchase the rest of the parts of Medicare plans like advantage and supplement plans etc.
Benefits of Medicare Supplement insurance
It could be a bit challenging for the persons to understand that which is more beneficial for them as a person cannot have Medicare supplement insurance and Medicare Advantage plans at a time. Generally, people prefer to go with the supplement insurance due to the number of advantages which they can enjoy in return. Some of these advantages are:
- You can visit any doctor belong the list of doctors mentioned in the original Medicare plan, as long as the doctor accept the supplement plan
- The coverage of these plans is high and does not change ever once it has been purchased. This means that you may have planned for the life
- The supplement plans also include the medical expenses when the person who has enrolled for this travel to foreign countries
- The main reason which makes this insurance popular is the cost which is always low and does not require you to take loan while they offer high coverage
Facts of Medicare Supplement insurance:
While this insurance is already very popular but still there are some facts about them the people are not aware. Especially the senior people should get enough knowledge about the MSI before they enroll in it.
It cost differently everywhere:
The private companies offer the different plans of this insurance in different plans. So, do not get stuck with one company. There are always the cheaper options available. Some companies charge on the basis of plans whiles other charges on the basis of the person’s health. Select the one which cost less to you.
Same coverage everywhere:
Does not matter that how much you have paid and by which company you have enrolled in this insurance plan, you will receive the same coverage where. The reason behind the same coverage is the policies which have been set by the original Medicare. There are total 12 plan programs and coverage of all of them has been same by all private companies.
Only one plan is needed:
There are other Medicare parts to like Part D or advantage plans. To qualify for others, you only need one plan of the supplement insurance. This rule has been set by the law. This means that if your plan covers the specific needs, you do not need to purchase another extra insurance even in the case of Plan D of Medicare
Coverage for one person only:
Traditionally one person’s insurance can be used by the other like husband and wife but this does not happen in the case of Medicare. The Medicare supplement plan is limited to the one person. Even the married couples have to purchase individual insurance plans for themselves.