Focus on Medicare

What is Medicare Supplemental Insurance?

Medicare supplemental insurance is an insurance policy that enables a beneficiary to get covered for various other expenses not covered in Part A and Part B. It covers a beneficiary to make co-pays and co-insurance for Parts A and B.

What are the eligibility criteria?

Anyone who is entitled to Part A of the program but is enrolled in Part B is eligible for supplemental insurance policy.

What services Medicare supplemental Plans offer?

As the name suggest, Medicare supplemental plans offer services which are not covered under Part A and B. Services such as dental, vision, hearing, drugs etc. All of these are not offered in a single policy but in different policies.

Is it mandatory to enroll in this policy?

Certainly not, these plans are optional and are serving to help the people manage their finances by lowering their expenses on health problems and medications.

What about the premium cost?

The premium cost of supplemental policies is low. This can be a reason for more than 85% of senior citizens opt for these plans. Though the premium depends on the plan on choose, but the premium can be as low as $25/month.

When to enroll?

One can easily enroll within 6 months of enrolling in Part B of Medicare program. If one do not enroll in the given time he will either have to wait for opening of the enrollment, that is at the end of the year or he would be entitled to pay the penalty of 1% with the premium he pays every month.

Supplemental plans help the beneficiaries to save a lot of money by managing the healthcare costs. The plan provides coverage for medical expenses which the original program finds itself unable to cover.