Protection From The Bills Medicare Doesn’t Pay
Medicare was never meant to cover all of your doctor and hospital bills. Many people do not realize this and expect it to pay all. Reliance on Medicare in this situation can mean financial difficulty with out-of-pocket expenses.
Why Medicare Supplement Insurance is important
Medicare was not designed to cover all of your doctor and hospital bills and, without supplemental insurance, the costs of health care can get out of hand. The companies of ManhattanLife offer a number of different Medicare Supplement policies to help cover some of the costs that Medicare alone does not.
Medicare Supplement policies help cover costs such as coinsurance, co-payments and deductibles. With a Medicare Supplement policy, you can keep your out-of-pocket expenses for healthcare down so you can maintain predictable monthly costs and avoid financial difficulty.
When you enroll in a Medicare Supplement policy, you can usually keep your doctors and hospitals and you retain all of your Medicare rights and protections. Take a look at the Medicare Supplement products we provide and find one that fits your budget and needs today.
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If you are 65 or older; under 65 with certain disabilities; or any age with End-Stage Renal Disease, you qualify for Medicare. Medicare and Medicare Supplement policies are divided into standardized plans that offer the same coverage, despite the provider. Medicare alone covers only Part A and Part B:
- Part A (Hospital Insurance) helps cover inpatient care in hospitals as well as skilled nursing facilities, hospice, and home health care.
Part B (Medical Insurance) helps cover doctors’ and other health care providers’ services, hospital outpatient care, durable medical equipment, and home health care as well as preventive services to help maintain your health and to keep certain illnesses from getting worse.
Medicare Supplement insurance is often referred to as Medigap because it fills the gaps in coverage that are left by Medicare. For example, if you would like supplemental coverage for hospitalization costs, you can purchase a supplemental plan that provides extra benefits for hospitalization.
Medicare Supplement policies are standardized and regulated by the federal and some state governments, so searching for one is simple. When you shop for Medicare Supplement coverage, remember that the benefits for each policy are the same regardless of which company you select. The only difference will be the prices you pay for each policy as well as how a company determines rate increases.
Medicare and Medicare Supplement plans only cover one person, so you can choose the plan that fits the exact specifications you require.
*Information taken from the Centers for Medicare & Medicaid Services 2012 Choosing a Medigap Policy brochure