A Medicare Supplement Insurance policy, id generally sold by the private companies that can help you with the cost involved in health and other medical care. Medicare Supplement policies proffer coverage for the insurance services that are not original Medicare does not cover. Medicare Supplement Insurance is different from the Medicare Advantage Plans. The Medicare Advantage plans here are the ways to get a Medicare Benefit, whereas Medicare Supplements provides you with more benefits.
Things to Know about Medicare Supplement policies:
- You must first enroll yourself with Medicare Insurance Part A and B.
- You can apply for the Medicare Supplement Policies in case you are already enrolled in the Medicare Advantage Plan, but ensure that you leave the Medicare Advantage plan before the Medicare Supplement policy begins.
- You will have to pay monthly premiums for the policy you get enrolled in.
- A Medicare Supplement Policies only covers a single person. In you and loved ones both want to get enrolled in Medicare Supplement Policy then each one of you will have to buy a separate policy.
- A standardized Medicare Supplement policy can be renewed even if you have any health issues. This means that the insurance company cannot cancel your Medicare Supplement Policy as long as you pay the premiums.
Your Medicare Supplement Policy does not cover everything:
Medicare Supplement Policy generally does not cover all the long term care for example dental or eye care etc.
The Insurance Plans that Aren’t Supported by Medicare Supplement Policies:
- The Medicare Advantage Plans.
- Medicare Drug Prescription Plans.
- The Medicaid policies.
- Veterans’ Benefits.
- The Long term health policies.