One of the benefits of reaching age 65 is the ability to enroll in Medicare and enjoy the lower payments for health insurance. Medicare has two sections: Medicare Part A for hospital insurance, and Medicare Part B for medical insurance. Each of these sections covers specific costs of treatment, but leaves gaps.
Medigap insurance (Medicare Supplement Insurance) fills in the missing pieces, and provides better protection. These policies are available from private insurance companies, and can be a significant help for those facing health issues after age 65.
Medigap: How to Choose the Right Company and Policy
Medicare covers about eighty percent of your medical costs, with the remaining twenty percent coming out-of-pocket. That twenty percent includes deductibles and copays. You may have a specific doctor or specialist you want to continue with, who may charge more than what Medicare pays – which will be left for you to pay the difference. The various Medigap policies offered by private insurance companies cover many added expenses, including healthcare costs if you plan to travel abroad.
These plans are available in a range of standardized benefit packages, with each one having different levels of the expenses you incur that will be paid by your policy. Generally, the more expenses that you want to have covered, the higher the premium cost. You have unique needs, and it can be very helpful to get some guidance from an insurance agent when evaluating your options. As Medigap insurance is only available through private companies, not through state or federal websites, talk to a local company so you have an agent you can call upon whenever you need help.
Questions about access to in and out of network doctors and specialist, and what expenses will be covered by your policy can be easily answered by one of our local team at Balanced Insurance Solutions. Insurance can be confusing at the best of times, and we are here to help explain all the details so you are able to make an educated decision.
We Help You Choose The Right Medigap Insurance Plan
Medigap insurance is available to those who are covered by Medicare Part A and B. Enrollment in these programs begins six months prior to your 65th birthday. It can be difficult to know which Medigap insurance plan will be the right choice, and that’s when our local team at Balanced Insurance Solutions in Crane, Missouri can help.
Let us answer all your questions about Medicare as well as Medigap insurance, and the various options available to you. If you are nearing age 65, we can meet with you at a convenient time and help you get the coverage that will best suit you. We work closely with the people we serve, and we understand that cost is always important. We will go the distance to help you find the most affordable Medigap insurance plan with the best coverage. Call us! We are here to help, and as we are local, we are always easy to reach with questions and concerns.