Medicare Guide

There are certain things that are associated with Medicare supplemental policy that you should know. This guide will provide you an outline of what you should expect from Medicare Supplement insurance.

If you are planning to buy a Medicare supplements insurance Policy, then this information is essential for you:

  • If you wish to buy Medicare supplements then you must ensure that you have both Part A and B.
  • In case you already have Medicare Advantage Plan, you need to make sure that you can leave it before the beginning of your Medicare supplements policy. Of course, having the Advantage plan does not mean you cannot buy Medicare supplements, but it must end before the beginning of your Medigap plan.
  • There are certain plans that are not available anymore. These are E, H, I, J. If you already have any of these as mentioned before, you can keep it. For new buyers, these plans are not available for sale.
  • Your monthly premium for Medicare supplemental policy goes to private insurance provider in addition to the Part B monthly premium which is paid by you to Medicare.
  • Keep in mind that one Medigap policy is for “one” person only. So, if you wish that you and your spouse should be covered with Medicare supplemental insurance, then you must buy one policy for yourself and one for your spouse, individually.
  • A Medicare supplemental insurance policy can be availed from any “licensed” insurance company.
  • In case you wish to drop the policy you have, you should contact your insurance policy provider and inform them about your decision.
  • You can renew any standardized Medicare supplements insurance policy even though you may have health problems. So, as long as you continue to pay your premium, the insurance company cannot cancel the Medigap policy you have.
  • In case you have a Medicare supplement insurance policy for yourself already, then no company can sell you another while the first one is standing because it is illegal. However, if you provide a statement in writing that you will cancel your existing Medigap policy, then you can buy another one.
  • It is advised that you should not cancel the existing policy unless and until the new Medicare supplemental plan is in place. Also, you need to decide whether you wish to keep this new plan or not. You are given 30-days free look period, from the day that you get your new policy on, to decide whether this policy works for you or no. Also understand that for the free look period, which is one month, both premiums will have to be paid by you.

Buy Medigap Plan

Let us make one thing very clear; it is really not easy for a common man to understand banking and insurance terms and policies. When you reach a bank or insurance company, you might not be well-versed with a lot of things that they would tell you just like that. This lack of understanding can result in a gap, which may cost you high premium, a policy/pan that does not fit your needs or some such trouble.

In order to fill this gap, you should seek help of an agent, who would go to the length of finding the right plan for you, by keeping in mind what you need and what you can pay. Should you have any query, your agent must clarify it in as understandable format as possible and unless you are sure about the plan, you must not be forced to buy one.

At Medicaresupplumental.net, you would be provided with quotes for available Medicare supplements insurance policies as per your needs and if you wish to enquire about any aspect of Medigap, you will be assisted right from the beginning till the end.

Furthermore, you will be guided in entire process of buying the policy and an overview is stated as under:

  • Analysis of your needs and picking out plans that meet your requirements.
  • Providing quotes for the selected policies so that you can compare them and pick the one that is best suited to your pocket.
  • Filling the application for particular Medicare supplemental insurance Plan.
  • Paying for the Medigap Policy you have applied for.
  • Initiating the Medicare supplemental policy when you want it to. If you want an effective date, do inform about it.
  • The Medicare supplements policy is made available to you within 30 days.

This entire procedure for buying the Medicare supplemental insurance policy is made as easy and simple for you as can be. So, you do not have to undergo complicated methods, nor bang your head hard to find the meaning of various complicated policy terms. You will be assisted at every step.