Let us break down how Medicare supplement policies operate, when to sign up, and how to acquire best supplemental insurance for medicare based on your needs.

Why You May Need a Medicare Supplement Plan

Whereas Medicare Part A pays for inpatient hospital charges and Part B pays for physician visits and outpatient services, you still have copayments, coinsurance, and deductibles to pay. These out-of-pocket costs can rapidly accumulate, particularly with unexpected illnesses such as chronic diseases or unexpected medical issues.

That's where Medicare supplement plans come into play. Medicare supplement plans close the "gaps" in Original Medicare by covering:

Part A and Part B deductibles
Copayments and coinsurance
Skilled nursing facility care coinsurance
Emergency medical coverage while abroad (in certain plans)

What are the Best Supplemental Insurance Plans for Medicare?

There are 10 standardized Medigap plans offered in most states, which are named A through N. They all have a varying level of coverage, but they are all government-regulated to be the same regardless of the carrier.

Some of the best supplemental Medicare insurance are:

Plan G: Offers comprehensive coverage for nearly all out-of-pocket costs, except for the Part B deductible.
Plan N: Lower premiums with some cost-sharing; an excellent balance between coverage and affordability.
Plan F (only for those eligible before 2020): Covers all deductibles and coinsurance—ideal for maximum coverage.

Your best choice hinges on your health requirements, affordability, and whether you will accept some out-of-pocket expenses for reduced premiums.

Learning the Medicare Supplement Open Enrollment Period

Timing is critical in buying a Medigap policy. Your 6-month Medicare supplement open enrollment begins in the month you are 65 and enrolled in Medicare Part B.

During this period:

You are permitted to purchase any Medigap plan available in your state.
Your medical conditions cannot be denied benefits or charged extra for by insurance companies.

Once this window is over, you may be underwritten, that is, you may be denied or charged more for coverage based on your individual health record.

Get Professional Assistance Selecting the Best Plan

Finding the proper Medicare supplement plan doesn't have to be overwhelming. Call today at 858-722-8505 and arrange for your complimentary consultation to discover your ideal Medicare supplement plan.