Be Smart! Choose Medicare Supplement Insurance

Like any other insurance plan, Medicare can be quite confusing. Until you understand the basics

of the program, it will be difficult to choose an appropriate plan that will meet your coverage

needs. Most people are of the opinion that plans are basically the same. However, there are

important differences between various plans that covered under Medicare.

Healthcare is one of the biggest expenses people face after their retirement. Some people may

believe that Medicare will cover all of their medical expenses. However, this may not be the

case if you have not payed attention to the loopholes in your Medicare Supplement insurance

plan. We at Choice Plus Benefits can assist you to get the best Medicare supplement insurance

in Dallas .

Medicare Supplement Plans - An Overview

Original Medicare coverage provides Part A and Part B benefits to eligible individuals. However,

you need to check whether the traditional plan will provide coverage for all of your healthcare

needs. For many, the coverage may not be enough and that is when you’ll need a Medicare

supplement plan.

Also referred to as a ‘Medigap’ policy, this supplement can provide coverage for health care

costs that have not been covered under Part A and Part B. In order to be eligible for a Medicare

Supplement Plan, the beneficiary has to be covered by Part A and Part B of Medicare. Apart

from this, they will need to live in a state where the plan is offered.

Facts about Medicare

Before you choose a Medicare insurance plan, here are some essential facts to know:

● Standardized Medigap plans are renewable - Medicare supplement plans have been

guaranteed to be renewable since 1990, even if you have any kind of health issue. As

long as you pay the premiums regularly and your insurance company does not face

unforeseen financial issues, you can’t be dropped from the plan.

● Best time to enroll for the plan - The best time to enroll for the Medicare Supplement

Plans is during the Medigap open enrollment period. The open enrollment period begins

from the first day of the month when you turn 65 and are enrolled in Part B for six

months. You have guaranteed issue rights to purchase Medicare Supplement plan that

is available in your area during this time period.

● Types of Standardized Plans - In most states, there are 10 standardized Medicare

supplement plans. Each of the plans offers some basic benefits irrespective of the

company that is offering the plan. However, Massachusetts, Minnesota and Wisconsin

don’t have standardized plans. Each of these states has their own unique Medicare

Supplement offerings.

If you are planning on Medicare supplement insurance, ensure that you have a thorough

understanding of the intricacies of the plan. Choice Plus Benefits will assist you in choosing the

right plan for your coverage needs.