Insurance: For Your Protection

Most people go through life hoping that something unfortunate does not happen to them. Nobody plans on getting in an accident, falling ill with cancer, or suffering a heart attack. But sadly, these things do happen to people. And as hard as it is to admit, there is a chance that one of these things could happen to you. That's one reason why medical insurance is so important. No, medical insurance won't stop you from getting hurt. But it will reduce your financial burden if you do happen to become injured or ill one day. We are happy to share more about medical insurance on this blog.

Medicare Supplement Insurance: Frequently Asked Questions


Whether you are currently on Medicare or will qualify for Medicare insurance in the near future, you are likely to have some questions regarding Medicare supplement insurance. Taking the time to review the frequently asked questions below can help you to get the answers you need.

What Exactly Is Medicare Supplement Insurance?

Many people receiving traditional Medicare coverage are unfamiliar with exactly what Medicare supplement insurance is. This type of insurance is a supplemental health insurance coverage that helps to cover the out-of-pocket expenses typically associated with traditional Medicare coverage.

Why Is Medicare Supplement Insurance Important?

In the absence of Medicare supplement insurance coverage, you could find yourself facing some rather significant out-of-pocket expenses in the event of a serious medical issue. For many people on a fixed income, it can be difficult — if not impossible — to fit these unexpected expenses into their budget. Having supplemental coverage will help to ensure that you always have access to the medical services that you need regardless of your financial situation. 

Are Medicare Supplement Insurance And Advantage Medicare Plans The Same Thing?

Many people confuse Medicare supplemental insurance and Advantage Medicare plans. However, these are two very different types of insurance coverage and you cannot have both types of insurance at once. Supplemental insurance plans, also commonly referred to as Medigap plans are designed to provide additional coverage to be who currently have traditional Medicare Part A and Part B insurance. Advantage Medicare plans on the other hand simply bundle traditional Medicare Part A, Part B, And Part D insurance without providing additional supplemental coverage. 

What Type Of Medicare Supplement Insurance Provides The Most Coverage?

There are several different types of Medicare supplement insurance plans. These plans are typically identified by a specific letter including Medicare F, G, and N plans. Each of these different insurance plans will provide a different level of coverage. For instance, a Plan N Medicare supplemental plan will typically cover your Medicare Part A deductible for the year as well as covering the majority of your Part B co-payments. While there are no supplemental insurance plans that provide coverage for all possible medical expenses, a Plan F policy will typically provide the highest level of coverage. With that being said, it is important to note that these supplemental insurance plans are often the most expensive as well. Consequently, you may wish to consider a Plan F policy with a higher deductible in order to help keep your monthly premiums as low as possible while still getting the quality coverage you desire. 


11 May 2022