Medicare Supplemental Health Insurance

What is Medicare Supplemental Health Insurance?

Medicare supplemental health insurance are health policies created by the government and sold by private companies. The plans are meant to cover gaps in the original Medicare plan. You can purchase Medicare supplemental health insurance only if you already have Medicare A & B. When you receive certain health services, Medicare pays its share of the costs and the Medicare supplemental health insurance covers the rest.

Is Medicare Supplemental Insurance Worthwhile?

It can be. Here is an example: The basic Medicare plan provides coverage for 60 days of hospitalization in a benefit period. Beyond those 60 days, patients are expected to pay. But with Medicare supplemental health insurance, your hospital stay will be paid from day 61 - 150. If you use all 150 days, the Medicare supplemental health insurance plan will cover an additional 365 hospital days in your lifetime. Here's another: Basic Medicare covers 80% of doctor fees and Medicare supplemental health insurance plans pay the rest.

What is Not Covered Under Medicare Supplemental Health Insurance?

There is no coverage for private duty nursing care, most medications, dental or vision, hearing aids or assistant care for dressing, bathing or feeding.

How Do I Find Medicare Supplemental Health Insurance?

Health insurance for supplemental medicare is sold under the name Medigap and can be purchased from a private insurance company. There are 10 approved plans on the market. There is also a plan called Medicare Select but it is not available in every state. While Medicare Select is less expensive, it also limits your choices in which hospitals or physicians you may use.

How to Shop for Medicare Supplemental Health Insurance

Ask questions, of course, but also tell the agent of any health coverage you may already have. If you have Medicare + Choice then you are not eligible nor in need of another Medicare supplemental health insurance plan. Learn if you qualify for discounts on premiums. Non-smokers get discounts! And it's always a good move to call your state insurance commissioner's office to learn about licensed, reputable agents. You may also call 1-800-Medicare for more information.

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