Medicare supplemental insurance provides you with additional health insurance benefits that are not available through Medicare Part A or Part B. Some Medicare supplemental plans also referred to as Medigap insurance, will provide you with prescription coverage and preventative health care.
Medicare supplemental insurance plans can also cover your Medicare Part A deductible, extra days of hospital care, your Medicare co-payment amounts, skilled nursing and foreign travel emergency care.
Medicare supplemental health insurance is a plan sold by a private insurance company to those eligible for Medicare as additional coverage for medical needs.
These policies can be purchased directly from an insurance provider, which is bound by the federal and state laws governing health insurance.
You are required to pay a monthly premium directly to the insurance company, although assistance is available below a certain income limit. Medicare supplemental insurance is designed to help cover the “gaps” left by the standard government Medicare plan.
Because Medicare is a compromise between what is needed by the elderly population and what the government can afford to cover, there are obvious gaps in coverage, such as coverage of prescription drugs, extended hospital stays, specialized in-home care, and coverage for travel abroad.
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