What Is Medicare Supplement Insurance?
Medicare supplement insurance is a type of policy that Medicare beneficiaries can purchase. Plans are standardized and are overseen by each state’s insurance department.
With original Medicare, you are responsible for paying the deductibles and copays, along with 20% of the services that you receive from doctors. Medicare supplement insurance can pay some or all of these costs on your behalf.
Who Is Eligible?
Before you can buy Medicare supplement insurance, you need to meet a few eligibility requirements.
- You must currently be enrolled in Medicare Parts A and B
- You must be 65 or older
- You must live the state in which the policy is offered
Our Medicare Supplement Coverage
Our Medicare supplement plans will typically cover the services that Medicare covers, which includes most services that are deemed to be medically necessary.
This type of insurance can give you the peace of mind that comes from knowing that you’ll have help with a lot of the costs that the original Medicare plan does not cover.
Here is a look at some of the features of Medicare supplement insurance plans.
- A referral is not needed to see a specialist
- A lack of network restrictions means you can visit any doctor who accepts Medicare
- Predictable costs can help you stay on top of out-of-pocket expenses
- You can bring the coverage with you wherever you travel within the U.S.
- Your plan cannot be canceled as long as you continue to pay your premiums
- There is a broad selection of plans available to fit your goals and budget
What Does It Cover?
Medicare supplement insurance will cover some of the costs that are not paid by original Medicare Part A and Part B. Some of the things it may help pay, for both hospitalizations and doctors’ visits, include:
It can also help to cover out-of-pocket costs such as:
- Doctor services
- Home health care
- Durable medical equipment
- Lab costs
Medicare pays its share of the Medicare-approved amount for health costs that are covered, and then your Medicare Supplement Insurance will kick in and pay for its share of the costs that it covers.
What Won’t Medicare Supplement Insurance Cover?
Some of the standard exclusions for Medicare supplement insurance include:
- Hearing aids
- Prescription drugs
- Vision care
- Dental care
- Long-term care, such as in a nursing home
- Private duty nursing
Get In Touch With Burton & Company
Get in touch with Burton & Company today to find out how our medicare supplement insurance can help you to enjoy your golden years without worrying about how you’ll pay for the care you need. To get an insurance quote, give us a call at (888) 652-1325 or request a quote online to speak with one of our friendly medicare supplement insurance agents today.