The Benefits of Medicare Supplement Plans

​If you are thinking of getting Medicare Supplement, or Medigap plan, it’s a wise decision to review its advantages and disadvantages. Since having health insurance is essential, it is crucial to know more about the plan before purchasing. With this article, you’ll learn the pros and cons of Medigap.

The Benefits of Medigap
Medigap (or Medical Supplement) plan’s purpose is to fill the gaps that the Original Medicare doesn’t cover. It helps you pay for expenses like deductible, copayments, and coinsurance. But it’s not just all about that; it has more advantages that you might want to know.

• Standardized Policies 
  Comparing policies in most states is easier now as they standardized their policies. If you compare some policies, they now have similar benefits regardless of your location.
• Hospitalization Coverage 
  You will get 365 days of stay in hospitals with Medigap if you’ve already used this coverage in Original Medicare.
• It’s Nationwide 
  Usually, Medigap coverages are available nationwide. That’s why it’s suitable for people who always travel since Medigap could still cover you.
• Assured Renewal 
  No need for renewals because all you need to do is to pay (monthly) continuously. Still, it’s better to review your plan yearly to know if it still provides your needs. 

Medicare Supplement’s Disadvantages
There is no perfect plan; that’s why we need to review the disadvantages we’ll encounter with the insurance we get. Below is Medigap’s negative sides:

• Costing 
  Medigap isn’t a single package policy like Medicare Advantage, and it also requires you to have Original Medicare. You need various plans to meet your other needs that Medigap didn’t cover, which means additional expenses. Another factor to consider is that, yearly, Medigap’s cost increases.
• Rejection
  Medicare Supplement can reject your application if you didn't meet the qualifications. Also, it might cost you more if you enroll outside the Medigap Enrollment Period.
• No Part D (Prescription Drug Coverage) 
  Medigap does not cover prescription drug coverage, unlike Medicare Advantage. If you want to get it, you should get a separate plan for it. However, it may cost you more expenses.

Conclusion
Insurance plans have their own advantages and disadvantages. It is best to research and understand different types of Medicare Programs and plans to ensure that it will be the best option for you. Feel free to talk to your insurer to know more about these things if you find it complicated. 

At Art of Medicare, we aim to provide comprehensive insurance policies that make your life easier. We want to help you get the insurance that fits your needs. You can get more information about our products and services by calling our agency at (702) 776-7726. Get your free quote today by CLICKING HERE.