Medicare Supplement insurance is a supplement to the original Medicare program. Medicare Supplement insurance helps to bridge the gap between what Medicare will provide you with through Medicare Parts A and B, without making Medicare supplemental insurance a part of your Medicare coverage. Medicare Supplement insurance plans work like Medicare Parts A, B and C, and can help to pay for out-of-pocket expenses that Original Medicare does not cover. In order to qualify for Medicare Supplement insurance, you must be age 18 or older, be in generally good health, have an income that is at least average, and have disability-related criteria that have been verified.
These plans do not offer stand-alone coverage; rather, you must remain enrolled in both Parts A and B. Medicare Supplement plans are standardized by the pharmaceutical companies, so there are common features among the different companies. There are four different companies that offer Medicare Supplement insurance; JAG Insurance, Metlife Insurance, Kaiser Permanente, and Cigna. There are no Medicare Advantage Plan options available through Medicare supplement. The government determines which companies offer the best rates, so it is important that you compare rates from at least three companies before choosing a Medicare Supplement insurance provider.
It is possible that Medicare Supplement insurance will change from year to year, so it is important that you periodically review your coverage. If there are any changes to your Medicare coverage, you should contact your agent to find out exactly what those changes are. You should also keep abreast of any new information regarding prescription drug coverage, as this may affect your Medicare Supplement plan options. Medicare Supplement insurance helps to fill in the gaps left behind by Medicare Parts A and B, so if you or a loved one are without this coverage, you should consider what Medicare Supplement insurance options are available to help make your healthcare more affordable.