Medicare Supplement Insurance

 

What is Medicare Supplement Insurance? It is coverage provided by private insurance carriers that are licensed and regulated by each state’s Department of Insurance.This insurance is purchased to fill in the gaps between what Medicare pays and what you must pay out-of-pocket for deductibles, coinsurance, and copayments.

Medicare Supplement insurance policies pay only for services that Medicare deems medically necessary. The payments are usually based on the Medicare-approved charges. Some plans offer benefits that Medicare does not include, such as medically necessary emergency care services while in a foreign country.

There are 10 standardized Medicare Supplement Insurance plans. Each plan is labeled with a letter of the alphabet and offers a different combination of benefits. One or more plan designs offer a high-deductible option. Medicare supplement policies premiums are based on the recipient’s age and are automatically renewed each year.


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