Oct 10
3
Medicar Gap Insurance
Medicare is the term for insurance which is provided to the senior citizens and the disabled people by the US government. The Medicare insurance providers coverage to the senior and disabled for basic medical costs which shall be required to be paid for health care. However these do not pay for the complete costs involved and purchasing additional coverage such as Medicare Gap Insurance is a good idea.
If one is eligible for Medicare the goverment will provide Part A & Part B. Part A is your Hospiltal coverage and Part B is medical care.
Your Part A coverage covers inpatient cost in hospitals, skilled nursing facility’s, hospice and even home health care. Most are eligible for Part A at no cost, if they or their spouse worked and paid in medicare tax and you meet the criteria. If not you still may purchase on your own.
You must pay a premium for Part B Medicare. If you do not sign up when first offered you will have to pay a penalty later. Part B helps cover cost assiciated with office visits, outpatient care and prevenatitve care.
If you need additional coverage you can opt for a Medicare Gap Insurance plan, also called Medicare Advantage. These plans follow the rules of Medicare, but premiums differ from one private carrier to another.
Part D Medicare Gap Insurance is Medicare prescription Drug coverage. This is the most popular of additional plans purchased. If you are enrolled in Part A & Part B you may wish to purchase this type of plan to help with RX cost.
The government is pulling away from Part C or Medicare Advantage which helps pay for out of pocket costs. But there are many other Medicare Gap Insurance that will pick up this loss of coverage. You can find individual plans through private insurance companies.
Learn more about Medicare Gap Insurance. Stop by Jeff Cline’s site where you can find out all about Medicare Supplements and what it can do for you.
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