In the U.S., approximately 40 million people are over 64 years of age. We’re facing a huge shift towards more people looking for ways to extend Medicare in order to get coverage for more doctor and hospital bills. Maybe, it’s wise to start learning what Medicare does and doesn’t cover before you need to make a decision about your options to fill in Medicare’s gaps in coverage.
Medicare began way back in 1965 and was not really created to provide for all health care needs. We all expect to need more health care as we age. With the rising cost of health care services in the U.S., getting a Medigap Plan could be a way to keep health care expenses under control during retirement.
Medigap or a Medicare Supplement Plan covers the “gaps” in Medicare’s benefits. If you don’t want to budget for the 20 percent of doctors’ fees not covered by Medicare, a Medigap plan can help. If you have Medicare Part B, you can apply for a Medigap plan. There is an open enrollment for Medigap insurance for the first 6 months after you turn 65 when you do not have to deal with medical underwriting. It is beneficial to avoid underwriting since you will not be asked about your health and your application cannot be declined even if you have a pre-existing medical condition.
You can find reliable information to help you decide whether Medicare Supplement Insurance fits your needs here on our website. If you still have questions about Medigap, you can also ask our personal advisors to schedule a confidential consultation for you. The more you know, the easier it is to figure out what Medicare will mean for you.
Wiley Long is founder and president of Medigap Advisors, and is passionate about helping people navigate the confusing waters of Medicare. He is the author of The Medicare Playbook: Designing Your Successful Health Coverage Strategy, a clear and simple explanation so you can make the most of your Medicare coverage. For more information visit www.MediGapAdvisors.com.