Persons approaching the age of 65 need specialized medical care. This is because they have to undertake special therapy, surgeries and other medical needs that can be expensive at time. Although Medicare insurance plan comes automatically once one attains the age of 65, the plan isn’t enough as it only takes care of 80% of the total medical bill. This means you will be forced to pay the remaining 20% and this could be a lot of money.
Most aging persons cannot or aren’t capable of producing the 20% especially if one has to undergo a serious or delicate surgery. Most of these people live on their pension meaning their income is very limited. It is therefore due to this reason why Medicare Supplement Insurance policy was introduced by insurance providers. Medicare supplemental insurance cover, also known as Medigap insurance, is a policy that covers the extra expenses (the 20% from Medicare insurance policy), thus enabling you to have a 100% Medicare cover.
Medigap insurance is easily available and affordable to all. Even the more comprehensive plans like Medicare supplement plan G are affordable for most people. You can talk to an insurance agent for more information on its premiums, and also get help determining adequate insurance cover for you and your spouse. Purchasing this insurance cover soon after attaining the age of 65 is mandatory, as its premiums are way cheaper at this stage than when one is older. It would also be advisable for you to purchase individual Medigap cover for you and your wife. This will save both of you good money in the future.
Several insurance providers offer Medigap insurance cover, though at varying rates. It is for this reason why you should shop for providers that offer the service with adequate cover and at affordable rates too. Most of these companies have online portfolio meaning you can check them out and even request for quotes from the comfort of your room.