Medicare is a national healthcare program available to those who are disabled and those who are elderly. In general, someone becomes eligible for Medicare when they turn 65, or if they have been receiving disability checks from Social Security (SSDI) for two years. In a rarer situation, people with end-stage renal disease or ESRD may also qualify for Medicare. Usually, you do not need to apply for Medicare; if you are eligible, you will receive an enrollment packet in the mail. In general, disabled individuals don’t qualify for Medicare until they are at least 20 years old.
Medicare has three primary sections.
Medicare supplements came into being shortly after Medicare was signed into law. Because you are required to pay for some things, like 20% of outpatient expenses, supplemental policies were created to pay those expenses for you. This allows people to feel less worry over how much each medical visit will end up costing them.
Some of the primary advantages of a traditional Medicare Supplement policy are:
Supplemental insurance for seniors with Medicare is the most predictable back-end coverage that you can buy. You will know exactly what’s covered for every inpatient or outpatient procedure based on which Medigap plan you choose. Medigap is insurance to cover your Medicare deductibles & copays. Some other things to know about Medicare Supplement insurance:
Medicare Supplement plans fill in the gaps in Original Medicare’s coverage – hence why they are nicknamed MediGap plans! When paired with a Medicare Prescription Drug Plan (also called Medicare Part D), Medicare Supplements provide you the ultimate coverage you need to remain healthy and independent.
We like options, and so do you. Luckily, Medicare Supplements Plans each offer different benefits with various out of pocket costs to the consumer. Plans A – N each have different levels of co-pays, deductibles, and more. (Notice that MediGap “Plans” are different than “Parts” of Medicare)