(866) 341-8542 & (281) 255-4444

5 Reasons Why Medicare Supplement Plans Are Valuable

Stethoscope and blood pressure monitor

A Medicare Supplement Plan, also known as a Medigap Plan, is an important consideration when becoming 65 years old.

Essentially, a Medicare Supplement Plan is considered Part B and fills in the coverage gaps left by Medicare Part A. Part A consists of hospital coverage.  Medicare pays for 80% of what they cover and the remaining 20% of covered services are left to the member to pay.

Therefore, a Part B plan offers medical coverage to pick-up the 20% that Medicare Part A doesn’t pay for.  The vast majority of eligible Americans are automatically enrolled in Medicare Part A by the Social Security Administration upon turning 65 years old. You can click this blue link to read an easy guide to “The Different Parts of Medicare”.

The following 5 reasons explain why getting a Medicare Supplement Plan is valuable investment:

Medicare is a Game-Changer!

Unlike some major medical plans you may have had when under the age of 65 Medicare is administered and regulated by the government.  When considering the option of adding a Part B Supplement Plan to your Part A Medicare coverage you have the security of knowing that the government regulates what the different plan options cover.

So, if you decide on a Plan G Supplement plan regardless of the insurance carrier the Plan G will always offer the same coverage.  It’s the same with Plan F, Plan N, etc.  Insurance carriers must adhere to strict regulations and offer identical coverage on each Medicare Supplement Type.  The structure and coverage is different however with Medicare Part C Advantage plans.  You can get details on Part C Medicare Advantage plans by clicking on the article title “Medicare Advantage 101”.

You Can Plan Ahead

Medicare makes it easy to prepare in advance when you approach Medicare eligibility.  You have the opportunity to work with your insurance agent in advance to discuss plans and review your different coverage options.  Once you have decided on a plan you can submit an application for the Medicare Supplement you’ve decided on as far as six months in advance.  No need to risk a last-minute rush or concern about feeling unprepared!

Financial Peace of Mind

Medicare Supplement plans are able to reduce the potential for large out of pocket costs, costly copays and limited providers that you may experience otherwise.  As we age we require a greater number or health screenings, are more prone to illness and are more at risk for serious health conditions.  With Medicare Part A and a Medicare Supplement on your team you have exceptional care across the country and your finances are well protected on the services covered by Medicare.

Still working? A Medicare Supplement is Still for You!

Believing that although you are still employed full-time you would not be able to take advantage of Medicare coverage is a misconception.  You can take Medicare benefits and follow it with a Medicare Supplement Plan while still employed.  Some employers require their employees to transition to Medicare and may or may not cover a portion of the premium.  It is crucial to visit the human resources department at your place of business to discuss the company’s policy well in advance of your enrollment.

With Medicare Comes Freedom

Regardless of age medical screenings are very important and there is always the possibility of illness however minor or major.  With a Medicare Supplement Plan you have the security of knowing that it will follow your Medicare Part A and you will have exceptional coverage when you need it.  Many insurance carriers require a bank draft of monthly premiums a valuable service that helps you avoid a lapsed policy due to human error, hospitalization or otherwise. Your Medicare Supplement Policy offers you freedom from the fear of crippling medical bills should you be required to use your Medicare Plans.

Do You Know What Medicare Doesn’t Cover?


Medicare Parts A and B do not cover prescription drugs.  Prescription medications are covered by Medicare Part D plans.  These plans are also purchased from an insurance carrier.  It is important to secure a Medicare Part D Prescription plan when you begin to utilize your Medicare coverage.

Even though you may not take any prescription medications, don’t skip getting a Part D Plan.  The reason being that if you go without one for a time you will incur a penalty at a later date when you do enroll in a Part D plan.  At that point a Medicare will tack on a penalty fee to the cost of your Part D Prescription plan for life!  So, for this reason it is crucial to get your Part D Plan.

The good news is that there are many very affordable plans that will secure your Part D coverage for a very reasonable price.  For valuable details and information on Medicare Part D Plans click on “Medicare Prescription Plans: What You Need To Know!”.

Dental, Vision, & Hearing

Dental, vision and hearing coverage are not included in a Medicare Part A, Part B or Part D Plan.  Remember, Part B picks up the 20% of Medicare approved services that your Part A does not.  Because these policies are so closely regulated by the government insurance carriers are not able to add additional services onto Part B or Part D plans beyond what is expressly required.  When you here references to additional plan perks such as “Silver Sneakers” or plans that include prescription plans this is most likely regarding a Medicare Part C plan, otherwise known as a Medicare Advantage Plan.  Again, if this distinction is confusing please click on “Medicare Advantage 101” link above for clarification.  So, if you are utilizing a Medicare Supplement plan and Part D Prescription coverage know that you will want to be sure and speak to your insurance agent about securing a Dental, Vision and if you like Hearing coverage!

Long-Term Care

Long Term Care is also a coverage area not offered by Medicare.  Unfortunately, many seniors do not realize this which is a shame.  Although we would hope we would not need it, approximately 7o% of people over the age of 65 require some form of long term care during their lifetime.  Long term coverage provides services such as home care, assisted living, adult day care, hospice care, nursing home coverage and Alzheimer’s facility coverage.  With people living longer than before this is an important coverage to secure. Once a change of health has happened that disqualifies a person long term care cannot be secured.

If you would like more information about your plan options please contact us today!  We would be happy to provide you with the information you need to make an informed decision about your insurance coverage!

Related Posts