Is Medicare able to cover all of your health care needs. This is not the case for most people. Prescription drugs are covered by a separate plan and Medicare entails are range of deductible, coinsurance an copayents. Moreover, it will not protect you when traveling outside of the country.
Medigap insurance is regulated and must be purchased from a company licensed to sell it in your state. It still does not cover vision, dental, private-duty nursing or long-term care - you need separate insurance for those. What it does do is even out your healthcare costs and keep them affordable and within the budget of a fixed income.
After having obtained Medigap insurance, it is not possible for companies to take it away irrespective of changes in your health - so long as you remain current with your premiums you will retain coverage at the same rate. It is not possible to purchase this coverage if you own a Medicare Medical savings account. This coverage is only for one person and thus, spouses will have to buy individual Medigap plans.
Medigap is designed to cover the gap that exists between your actual health expenses and the expenses that Medicare is willing to cover. It keeps things predictable as you grow older. There are certain policies that will provide coverage when you travel outside of the United States, but many will not, so be sure to account for your travels when choosing a plan. Your broker will help you identify coverage terms that are in line with your needs.
After you have been eligible for Medicare for six months, you will be eligible to enroll in Medigap and it's generally best to get in touch with a broker and begin looking at different plans some time before you actually turn 64 so that you are prepared for open enrollment. If you miss this, it might not be possible to get Medigap or your rate could a lot higher.
Anyone approaching retirement age should look into Medigap insurance - it can make the difference between being able to afford your healthcare needs and not.
Medigap insurance is regulated and must be purchased from a company licensed to sell it in your state. It still does not cover vision, dental, private-duty nursing or long-term care - you need separate insurance for those. What it does do is even out your healthcare costs and keep them affordable and within the budget of a fixed income.
After having obtained Medigap insurance, it is not possible for companies to take it away irrespective of changes in your health - so long as you remain current with your premiums you will retain coverage at the same rate. It is not possible to purchase this coverage if you own a Medicare Medical savings account. This coverage is only for one person and thus, spouses will have to buy individual Medigap plans.
Medigap is designed to cover the gap that exists between your actual health expenses and the expenses that Medicare is willing to cover. It keeps things predictable as you grow older. There are certain policies that will provide coverage when you travel outside of the United States, but many will not, so be sure to account for your travels when choosing a plan. Your broker will help you identify coverage terms that are in line with your needs.
After you have been eligible for Medicare for six months, you will be eligible to enroll in Medigap and it's generally best to get in touch with a broker and begin looking at different plans some time before you actually turn 64 so that you are prepared for open enrollment. If you miss this, it might not be possible to get Medigap or your rate could a lot higher.
Anyone approaching retirement age should look into Medigap insurance - it can make the difference between being able to afford your healthcare needs and not.
About the Author:
To protect your car or home, make sure you speak with an experienced Fort Lauderdale FL insurance broker today. Pay a visit to the recommended website at http://www.alexandergreep.com.
