Supplemental Insurance in Charles City, IA
Medicare helps millions of Americans over the age of 65 and certain younger people with disabilities afford health care. While Medicare covers most health care expenses, it does come with some out-of-pocket costs. Medicare Supplemental Insurance, also known as Medigap, can cover these out-of-pocket costs. At Ackerson Insurance, we know how stressful shopping for insurance plans can be, so our agents are here to help you make the process easy.
What is Medicare Supplemental Insurance?
Medicare Supplement Insurance, also known as Medigap, is a supplemental insurance option available to purchase from a private insurance company. To purchase Medigap coverage, you must first have both Medicare Part A and Part B, also known as Original Medicare. This insurance can help pay for out-of-pocket costs not covered by your Original Medicare, such as deductibles, coinsurance and copayments. All policies are standardized; therefore, you will receive the same benefits no matter where you buy from.
When Can You Purchase Medicare Supplemental Coverage?
The best time to purchase a Medigap policy is during the six-month open enrollment period, which automatically starts on the first month you enroll in Medicare Part B if you’re 65 years or older and ends six months after the effective date of your Part B coverage. Unlike the traditional Medicare Open Enrollment Period, this enrollment period is a one-time one. After this period passes, you may not be able to buy a policy, or it could come with additional costs. Additionally, applying for Medigap coverage after the open enrollment period may expose you to the insurance company denying you or charging you a higher premium for your health conditions. Be sure to check with an agent if you need help determining when to enroll.
Get Started with Coverage
Medicare Supplemental Insurance can help you tend to costs not covered by Original Medicare. If you think additional coverage could be suitable for you, reach out to an agent today. Our agents at Ackerson Insurance are here to help you determine which Medicare plans benefit your healthcare needs most.