Medicare supplement insurance (or Medigap) covers the extra costs that Original Medicare — Part A and Part B — do not cover. These out-of-pocket costs can add up quickly, especially if you frequently see your doctor or if you need a prolonged hospital stay at any point. Without a Medigap plan, you may have to pay a lot more of your own money for your healthcare needs.

So, if you are thinking about enrolling in a Medigap plan to help save some money, you are probably wondering just how much money it can save you. That’s where we can help. Below, this Medicare supplement broker in Portage, Indiana is going to explain how enrolling in a Medigap plan can help you save money in the long-run.

How Much Can You Save With Medigap?

Your savings from a Medigap plan depends on a few things- like your current healthcare costs and future medical needs. For example, Medigap plans cover coinsurance and copayments, so you will save a lot if you visit the doctor or need treatments more frequently.

Even in medical emergencies, a Medigap plan can save you hundreds of thousands of dollars by covering costs that Original Medicare does not fully pay for, like long hospital stays, skilled nursing care, and blood transfusions.

These are two specific ways Medigap saves you money:

Original Medicare only covers some of the cost of your healthcare services and supplies, and without a Medigap plan, you will have to pay the rest. For example, if you stay in a skilled nursing facility, Medigap can cover the costs after Medicare stops paying, saving you tens of thousands of dollars.

If you travel outside the US, most Medigap plans cover emergency medical expenses up to a lifetime limit of $50,000. This is a huge benefit because Original Medicare does not cover foreign travel emergencies, and they can be very expensive.

Medigap Could Be Just What You Need

If your health requires you to get routine checkups at the doctor or get regular medical treatments, you should really consider a Medigap plan. Medigap can also make perfect sense if you want to be assured that any surprise medical bills you encounter will be covered. If you travel a lot or think you could need long-term care, the extra coverage from a Medigap plan can be invaluable. You can always reach out to a professional Medicare supplement broker in Portage, Indiana to learn more about what the right Medigap plan can do for you.

How to Choose the Right Medigap Plan

When choosing a Medigap plan, you need to compare the premiums with the possible savings. Medigap plans do have a monthly premium on top of your Medicare Part B premium, but the savings can far outweigh the extra costs. For example, some Medigap plans cover the Part A deductible, which is $1,632 per benefit period in 2024.

You also need to think about your current health needs and possible future medical expenses. A good Medicare supplement broker in Portage, Indiana can help you analyze your current healthcare costs and estimate future expenses. They can help you pick a plan that gives you the best coverage in your budget.

Looking for a Medicare Supplemental Broker in Portage, Indiana?

If you want to secure the best possible health coverage for your future, reach out to our team at Senior Care Insurance Services. As the leading Medicare supplement broker in Portage, Indiana, our agents take the time to know your situation before recommending any options. With our excellent customer service and competitive rates, we will help you find the best plan for your needs. Contact us today to learn how we can assist you.