» The Benefits of Investing in a Medicare Supplemental Plan
Medicare Supplement Insurance covers the costs of health care services which Original Medicare (Parts A & B) fails to do. The eligibility criterion is fairly simple to understand.
You become entitled to Medicare at the age of 65 years. People who are suffering from end-stage renal disease (kidney failure) and certain other diseases can start receiving benefits before the set age-limit.
You are not asked to pay any premium whatsoever for Part A (Hospital insurance). The Part B premium is taken from your social security check every month. You can apply for supplement plans after starting to receive Original Medicare benefits. There are other conditions attached to this, however these are case-specific. The rule of thumb is that you can receive Medicare and supplemental plans after turning 65 years of age.
The Importance of the Open Enrollment period:
The Open Enrollment Period is the best time to enroll yourself. It begins from three months before your 65th birthday and ends three months after it. Insurance companies cannot deny you a plan if you have been diagnosed with a pre-existing condition. They have no right or authority to charge you more than anyone else irrespective of health conditions.
The Creditable Coverage period is another important thing to think about. This is insurance coverage with no break period of more than 65 days. The plan includes:
- An employer plan
- A health insurance plan
- Medicaid Policy
- Medicare Part A and Part B
- Public Health plan
- Medicare plan under the Peace Corps Act 1971.
Should you miss the Open Enrollment Period you can still apply for a Medicare supplement insurance plan, however it would have its own set of rules to follow. You would be either asked to pay more or denied the insurance plan (on poor health conditions).
You should check the availability of plans in your area. There is a possibility that your ideal insurance company or insurance plan would be missing from the list.
What are the Benefits?
A Medicare supplemental plan is critically important to safeguard your health and finances against all kinds of serious threatening medical emergencies. You can buy yourself a healthy future and save money by investing wisely in extra health insurance to suit your requirements.
How to Get Medicare Supplement Quotes?
Sourcing quotes is easy in the 21st centuryt. You need to get several different quotes to find the best plan to suit your requirements. The more you research, the better off you will be. You would have heard everyone saying the same thing here.
Finding Medicare supplemental quotes is about gathering useful information and using the data to your advantage. Start by filling the form in the header of this page and accessing all the quotes from top providers customized to your zip code.
You must take pre-existing health conditions into account. Your chosen Medicare supplement plans should be read and analyzed to satisfaction. The market reputation and credibility of the insurance agency should be one of the deciding factors. Check the A.M Best independent rating on our quotes page to see how they measure up to each other.