How to Choose a Life Insurance Beneficiary
IIf you’re approaching your 65th birthday and starting to research options for Medicare, navigating through all of your new health care choices can be overwhelming. In addition to enrolling in a Medicare plan to meet your needs, you’ll also have to decide if a Medicare Supplement plan is right for you. Medicare Parts A and B provide insurance coverage for health-related expenses, but they don’t cover all of the health care costs you may have. A Medicare Supplement plan, sometimes called “Medigap,” is a private insurance policy that can help pay for some of the health care costs that Medicare doesn’t cover. This can include out-of-pocket expenses such as copayments, coinsurance and deductibles. With health care and out-of-pocket costs for Medicare participants on the rise, a Medicare Supplement plan can help set your mind at ease. Medicare Supplement plans are designed to help pay for the costs that you would normally pay out of your own pocket. But the costs and benefits will depend on which Medicare Supplement plan you select.
You can apply for a Medicare Supplement plan policy if you are age 65 or over and enrolled in Medicare Parts A and B. The one-time Open Enrollment period, which begins on the first day of the month an individual is 65 or older and enrolled in Part B provides for guaranteed issue. Individuals under age 65 eligible for and enrolled in Part B; are not eligible for guaranteed issue unless they have lost or are losing creditable coverage. In some states, Medicare Supplement insurance policies are available to people with disabilities who are under the age 65.
Am I Eligible for a Medicare Supplement Plan?
Medicare Supplement plans are designed to help pay for the costs that you would normally pay out of your own pocket. But the costs and benefits will depend on which Medicare Supplement plan you select. To enroll in a Medicare Supplement plan, contact your agent or find a local agent near you. Be sure you have your Medicare ID card ready. Your agent can help answer questions and determine which plan and pricing best meet your needs. we’re here to help. Here are some things you should know when considering a Medicare Supplement plan.
“To ensure good health: eat lightly, breathe deeply, live moderately, cultivate cheerfulness, and maintain an interest in life.”Tomas Reuss
But health care and out-of-pocket expenses for Medicare participants are on the rise. If you’re concerned about your ability to pay unforeseen health care costs, you’ll probably find that the peace of mind a Medicare Supplement plan can provide is worth the cost. When it comes to reviewing and choosing a Medicare Supplement insurance plan, the decisions can be daunting. But you don’t need to be an expert because we’re here to help. Contact your agent or find an agent in your neighborhood for your free Medicare Supplement guide.