Medicare Supplemental Insurance are programs designed to enhance the coverage offered by basic Medicare. For example, Medicare Part D is used to help pay for the costs of prescription medication. Some people opt to get Medicare Advantage, which is a program that already has supplements added to the basic Medicare program. But others prefer to put together their own program that consists of the supplements they can afford while still giving them the coverage they need. When you start looking into supplements, there are a lot of rules that you need to keep in mind. It can be confusing when you start trying to buy supplements, and that is why you should educate yourself before heading out to make a purchase.
Medicare Supplemental Insurance is sold through private insurance carriers and agents. When you look at the coverage each supplement offers, you will notice that the coverage is exactly the same regardless of who is selling it. There is no insurance agency or insurance carrier that can enhance the Medicare Supplemental Insurance and add anything to them. However, the insurance companies can charge whatever they want for supplemental insurance, even though all of the coverage is the same. We can help you to shop around and find an insurance company that you are comfortable with and offers reasonable prices on supplemental insurance.
Medicare Supplemental Insurance is also known as Medigap insurance. One marketing tactic that some insurance carriers will use is to insist that Medigap and Medicare Supplemental Insurance are different and should be treated differently. The government refers to Medicare Supplemental Insurance as Medigap because it fills in the gaps in coverage that Medicare leaves behind. Do not allow an insurance company to use Medigap and Medicare Supplemental Insurance as two different things. They are the same insurance and there should be no separate pricing for the two.
When you are looking through the options in a Medicare Supplemental Insurance policy, it is important to remember that you cannot mix Medicare Advantage in with Medicare Supplemental Insurance. The way the program is set up, you must choose one or the other. If you have Medicare Advantage and try to add Medigap insurance or Medicare Part D insurance, then your Advantage policy will be voided. Before you start signing up for multiple kinds of Medicare insurance, be sure that you understand what you already have in place and understand how adding more insurance will affect the insurance you already have.