What Should You Expect from A Supplemental Medicare Insurance Plan? Insights from a Supplemental Medicare Insurance Provider in Merrillville, Indiana

If you are approaching age 65, trying to search through all the different healthcare choices can be overwhelming. In addition to obtaining a Medicare health plan, you should also take some time to consider whether a supplemental Medicare insurance plan is right for your anticipated needs.

As the top-rated supplemental Medicare insurance provider in Merrillville, Indiana, we are here to help you make an informed choice. Without further ado, we’re going to discuss everything you’ll need to know about supplemental Medicare insurance.

Supplemental Medicare Insurance Plan: The Basics

A Medicare supplemental plan, also called Medigap, is a private policy that helps you pay for medical-related costs you would typically pay out of your pocket. These expenses can include coinsurance, copayments, and deductibles. With skyrocketing healthcare costs and out-of-pocket expenses, having supplemental Medicare insurance in Merrillville, Indiana, can help put your mind at ease.

In many cases, original Medicare (Part A and Part B) will cover your health-related expenses. However, the provisions may be limited. As such, many people choose to apply for a supplemental plan — especially if they are 65 or older and are enrolled in Parts A and B.

An open enrollment period commences on the first day of the month you turn 65, and if you are also enrolled in Part B, it provides you with a guaranteed issue. However, those below 65 might not be eligible for a guaranteed issue unless the creditable coverage is lost. Furthermore, if you are disabled and under 65, you may be eligible for supplemental insurance in some states by law.

Signing Up

Upon enrolling in Part B, you will have six months to buy a Medigap plan without needing a background health checkup. However, after the stipulated period, your medical history will be closely examined before a policy is issued, regardless of the state you live in.

How Does It Work with Other Plans?

Generally, supplemental Medicare insurance in Merrillville, Indiana won’t cover vision or dental care, long-term care, private duty nursing, hearing aids, or eyeglasses. You will most likely have to purchase additional insurance to be covered for these things. As far as payments go, if you have Medicare and other coverage, your primary insurance will make the first payment for your medical bills, then send the balance to the secondary payer. Again, the secondary payer might not cover all the costs, leaving you with the remaining balance.

So, if you are a relatively healthy individual that does not need medical care very often, purchasing supplemental Medicare insurance in Chesterton could end up costing more money than it saves. However, individuals who require frequent healthcare services can save significantly by enrolling in a Medicare supplement insurance plan.

Pricing Difference

The premium you pay can vary based on how the policies are rated. For instance, a “community-rated” policy would incur the same premium across the community regardless of the insured individual’s age. However, if it’s based on “attained age,” you will get a rate according to your age.

Are You Looking for Supplemental Medicare Insurance in Merrillville, Indiana?

Close to 14 million beneficiaries are currently enrolled in a Medigap plan, and more than 62 million people, the majority of which are 65+ in age, are enrolled in Medicare. Despite its popularity, signing up for Medicare can sometimes seem like a daunting task — and that’s where we can help. As the most trusted supplemental Medicare insurance provider in Merrillville, Indiana, we can help you understand your options and choose an appropriate plan based on your health needs and financial situation. Contact us today at 219-7367-800 to learn how we can help.


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