Insurance Broker – Medicare Medigap Insurance
Understanding Medicare Medigap Insurance With Fort Lauderdale FL Insurance Broker
Medicare Medigap Insurance ;
Does Medicare cover all of your needs? The answer is generally no. Aside from prescription drugs, which are covered by a different plan, Medicare comes with a bunch of copayments, coinsurance and deductibles. It also does not cover you if you are traveling overseas.
Medigap insurance is regulated and must be purchased from a company licensed to sell it in your state. It still does not cover vision, dental, private-duty nursing or long-term care – you need separate insurance for those. What it does do is even out your healthcare costs and keep them affordable and within the budget of a fixed income.
After having obtained Medigap insurance, it is not possible for companies to take it away irrespective of changes in your health – so long as you remain current with your premiums you will retain coverage at the same rate. It is not possible to purchase this coverage if you own a Medicare Medical savings account. This coverage is only for one person and thus, spouses will have to buy individual Medigap plans.
But Medigap does help fill in the gap between what Medicare covers and the actual costs of growing older. It helps make healthcare costs more predictable as you age. Some policies do cover travel outside the US, some do not – consider your lifestyle before making the choice of policy. A good broker will help you find the right one for you.
After you have been eligible for Medicare for six months, you will be eligible to enroll in Medigap and it’s generally best to get in touch with a broker and begin looking at different plans some time before you actually turn 64 so that you are prepared for open enrollment. If you miss this, it might not be possible to get Medigap or your rate could a lot higher.
Medigap insurance is something that all people should consider as they near the retirement age – this can play a significant role in ensuring ongoing access to affordable health care.