As you age, you are more prone to get ill. With the current economic conditions, the cost of healthcare services can really drain the money in your savings. With a Medigap Plan, you don’t have to worry about the daunting medical bills that Medicare doesn’t cover.
Medicare Supplement Plans covers the 20 percent of doctor bills that are not covered by your Medicare. While doctors are free to set independent rates for their services, Medicare only pays for 80 percent of a pre-determined rate. With a Medigap plan, those excess charges can also be covered so you are assured that there will be no unpaid doctor bills.
Full coverage under Medicare typically runs out after 60 days of a hospital stay. Hospital fees can be very expensive and you will have to pay for a share of the charges if you need extended care that lasts longer than 60 days. Medigap Insurance can take care of this co-insurance that you have to pay plus it gives you an additional 365 days coverage.
You also get to select how much Medigap coverage you need. Medicare Supplement insurance offers 10 different plans where you can pick your percentage of coverage for certain things like Medicare’s Part A deductible that’s $1,132 this year. To see more about the 10 Medicare Supplement Plans and how they work, you can check out our website. We also have personal advisors to help make the application process easy and hassle-free.