Does Medigap Provide Financial Protection To Seniors? Insights from a Supplemental Insurance Provider in Michigan City, Indiana

If you are looking for comprehensive healthcare coverage, Medicare supplemental insurance — also called Medigap — provides excellent financial protection to seniors. Although there are limited products that confer the needed economic benefits to people above the age of 65, Medigap can be extremely beneficial for certain individuals. Are you interested in learning how a Medigap plan can protect you financially? This supplemental insurance provider in Michigan City, Indiana is going to explain below.

First: What is Medigap?

Several of our clients are highly satisfied with the quality of care and financial protection they can access with their Medigap policy. Essentially, a Medigap plan focuses on filling the gaps in your Medicare insurance. As a Medigap holder, you do not pay for any health care costs out of pocket that your plan covers.

There are more than ten standardized Medigap plans, and the terms and conditions of each plan vary from one state to the other. Each policy has different levels of protection for the insured individual. For instance, Medicare pays 100% of the costs for 20 days of skilled nursing care and approximately 80% for the next 80 days. However, your supplemental policy will cover the remaining 20%.

Who Can Benefit from Medigap Coverage?

Medigap coverage does make sense if you, as a senior, anticipate frequent hospital stays in the future, wish to plan for the unknown, or are traveling out of the country. In each case, choosing a suitable Medigap can be the smartest bet.

However, supplemental plans do not pay for memory care, assisted living, non-medical adult daycare, Alzheimer’s, and in-home (custodial or companion) care. The long-term benefits may be limited for those aged 65 or above, but more robust plans can pay for the necessary and prolonged health care costs.

Also, it’s important to note that not all supplemental insurance providers in Michigan City, Indiana offer every type of Medigap plan. Costs will also differ radically based on your state and the insurance provider. However, most providers have comparable coverage, so shopping the policy based on costs can be wise. Premiums increase as you age, but it is best to ask your agent how the policy you choose is priced and how it will affect your future budget.

To enroll in Medigap, you must be 65+ in age and possess Medicare (Part A and Part B). It is reasonable to purchase Medigap within six months of enrolling in Medicare as pre-existing conditions criteria won’t restrict you. Plus, you must purchase the policy in the state where you reside. Medigap plans are directly sold by most private supplemental insurance providers in Michigan City, Indiana.

Therefore, engage in the services of someone recognized and someone who can explain your coverage thoroughly.

Looking for a Supplemental Insurance Provider in Michigan City, Indiana?

We understand that navigating the supplemental insurance marketplace in Michigan City can be overwhelming. So, if you’re having trouble figuring out your options, you can always turn to the licensed and trusted insurance service providers at Senior Care Insurance Services. As the most trusted supplemental insurance provider in Michigan City, Indiana, we can help you determine which coverage best meets your needs and financial situation.

We go above and beyond in offering insurance solutions to the residents of Michigan City. If you are looking for personalized assistance in selecting the Medigap plan that’s appropriate for you, we are here to help. Ready to get started? Contact us today at (219) 299-2311 or send us an online form through our website to request a free quote.


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