Medicare Discounts And Offers
Employee Offers For Medicare
Because of the significant out-of-pocket payments required by traditional Medicare, a booming market of private-sector insurance products has grown up around the government programs. These Medicare-related insurance products are one of the fastest-growing segments of the U.S. health insurance industry, and they are part of the market on which a smart consumer should focus his or her attention. Get your quotes now and see how you can save
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More About Medicare, Medigap, and Medicare Advantage
Medicare Supplement Insurance
Once you reach the age of 65, you are required to sign up for Medicare that is then used to cover some of your healthcare costs. Just like other insurance plans, Medicare does not cover all costs and you could still have copayments, coinsurance or deductibles that must be met. Medicare supplement insurance, also known as Medigap or Med Supp coverage, can be purchased to help offset those extra costs.
More About Medicare Supplement Insurance or Medd Supp Coverage
Medicare supplement insurance coverage is sold by private insurance companies and are designed to cover costs that Original Medicare does not. In addition to copayments, coinsurance and deductibles, Medicare supplement plans cover services when you travel outside the United States which Original Medicare does not. You must have Medicare Part A and B to purchase Medicare supplement policies and it only covers one person. If you and your spouse want coverage, you will need to purchase two separate policies. The policies are guaranteed renewable even if you develop health issues which means the company cannot cancel your insurance as long as the premium is paid. Any policy sold after January 1, 2006, may not include prescription drug coverage. Instead, you must purchase a Medicare Prescription Drug Plan (Part D).
MedicareDifference Between Medicare Supplement Insurance Programs and Medicare Advantage Programs
A Medigap plan is different than a Medicare Advantage policy. An Advantage policy provides actual Medicare benefits while a Medigap plan supplements your existing Medicare plan. It is illegal for insurance companies to sell you a Medigap policy if you have a Medicare Advantage plan unless you are switching back to an Original Medicare policy.
What Do Medicare Supplement Insurance Plans Cover?
Medicare supplement insurance programs offer different benefits depending on the premium you pay. The higher the premium, the more benefits you should receive. Some of the benefits offered to higher premium plans include deductibles, additional hospital benefits, at-home recovery services and more. If you purchased a Medigap plan before 2006 that covered prescription drugs, you are allowed to keep the plan. Med Supp plans also cover hospital costs or skilled nursing facility expenses after you have expended Medicare coverage. The Medigap coverage is the last payment portion for your medical bills. The healthcare provider first bills any insurance you have other than Medicare. If you don’t have any additional insurance, they bill Medicare directly. Once the other insurance and Medicare have paid, Medigap pays the portion they will cover. Anything not covered by Medicare supplemental insurance will remain your responsibility.
When Can I Buy Medigap?
The best time to purchase a Medigap plan is during the six-month open enrollment period when you can buy any Medigap policy sold in your state. This six-month period begins the month you turn 65 and have enrolled in Medicare Part B. It is important to note that you are required to sign up for Medicare during this open enrollment period or risk paying a penalty that remains for as long as you have Medicare plans. One the enrollment period ends, you may not be able to purchase Medicare supplement insurance coverage or it may cost more if you can purchase the plan. During open enrollment, Medicare supplement insurance programs must sell you any policy available at the same price it would sell a healthy person even if you have health issues. Outside of open enrollment, the insurance company can deny the policy or charge you a higher premium if you have health problems.
How Does Medigap Work When I Travel?
Medicare plans do not always cover an illness or injury that occurs when you travel outside the United States, but many Medigap policies do. Most policies cover foreign travel emergencies if it begins within the first 60 days of a trip as long as coverage is not provided by Medicare. The plans pay 80 percent of billed charges for certain medical emergency services after a $250 deductible is met. Foreign travel emergency coverage through Medicare supplement insurance coverage has a lifetime limit of $50,000.
How to Get a Medicare Supplement Insurance Quote
There are many ways to get a Medicare supplement insurance quote. Because the plans are sold by private insurance companies, you can call any company that offers Medicare supplement plans for a quote. Keep in mind that you need to reach out to them during your six-month enrollment period to get the lowest Medicare supplement insurance quote and to be sure the company does not deny your application. It may be beneficial to speak to a retirement planning adviser to learn what Medicare plans and the best Medicare supplement insurance policies are right for you and your family.
Discounts on Medicare Supplement Insurance Plans
If you are searching for cheap Medicare supplement insurance, visit EmployeandMemberDiscounts.com. We offer a wide range of discounts on this type of insurance plan that can get you covered while saving you money. Our site lists some of the best Medicare supplement insurance options with discounts that have been hand picked by our experts. Our website never requires a membership fee and you can enroll at any time. Once you have chosen your Medicare plan, you can browse through our cheap Medicare supplement insurance plans to find one that fits in your budget, providing you with the coverage you need.
EmployeeandMemberDiscounts.com is a one-stop-shop for all types of discounts. We search for all types of discounts, including senior, alumni and student, to create one location where you can access all types of savings. You can find savings on vacations, cheap Medicare supplement insurance, wellness and more simply by visiting our website. If you operate an organization or want to create a special discount program for your employees, contact us today. We can help you create a discount program that your employees will not only appreciate but will actually use. There are no sign up or membership fees and your members can join at any time. Visit us online today or give us a call to learn more about the benefits we can provide to your company.