What is Medicare?
Medicare insurance is a government-sponsored health insurance program that is available to most people aged 65 or older who have paid into Social Security. It is divided into hospital treatment costs (Part A), and medical treatments that do not involve hospitals, such as doctor visits and other outpatient services (Part B).
Medicare Part A normally does not include an annual premium payment, but does not cover deductibles and some coinsurance. Part B has an annual premium, with the amount determined by the person’s income and Social Security benefits. The individual also pays a deductible and coinsurance.
What is Medicare Supplement Insurance?
Medicare Supplement Insurance, also known as Medigap, helps pay for some of the health care costs not covered by Medicare, including:
Things To Know About Medicare Supplement (Medigap) Insurance
- Medicare will pay its share of your health care costs and then the Medicare Supplement Insurance policy will pay its share of the remaining costs
- A person must have Medicare Part A and Medicare Part B to get Medicare Supplement Insurance
- A Medicare Supplement Insurance policy only covers one person. Each individual, including spouses, must have their own Medicare Supplement Insurance policy
- Medicare Supplement Insurance policies have a monthly premium that is in addition to the Medicare Part B premium payment
- Any standardized Medicare Supplement Insurance policy is automatically renewable, regardless of any health problems, as long as the monthly premium is paid
- Medicare Supplement Insurance policies do not cover long-term care, such as stays in nursing homes or other healthcare needs like dental, hearing aids, vision, etc.
We Offer Medicare Advantage Plans
If someone has a Medicare Advantage Plan they are not eligible for Medicare Supplemental Insurance. However, Kleppinger Insurance does offer Medicare Advantage Plans. Medicare Advantage Plans can provide additional Medicare benefits.
Contact Kleppinger Insurance to find out whether Medicare Supplement Insurance or a Medicare Advantage Plan is best for your healthcare insurance needs.