Medicare Supplements: What You Need to Know

When you first become eligible for Medicare, you may be overwhelmed by all the different options available to you. One of the most important decisions you will need to make is whether or not to purchase a Medicare supplement plan.

Medicare supplements, also known as Medigap, are private health insurance plans that help pay for some of the costs that Original Medicare doesn’t cover. Original Medicare consists of Parts A and B. Part A covers hospital stays, and Part B covers doctor visits, outpatient care, and other medical services.

Medicare supplements can help you pay for things like:

• Copayments
• Coinsurance
• Deductibles
• Foreign travel emergency medical benefits

Medicare supplements are not a requirement, but they can be a good way to save money on your health care costs. If you are considering purchasing a Medicare supplement plan, it is important to compare different plans and choose the one that is right for you.

Medicare Supplement Enrollment Periods

There are two main Medicare supplement enrollment periods:

• Initial Enrollment Period: This is the seven-month period that starts three months before the month you turn 65.
• Annual Enrollment Period: This is the three-month period that starts October 15th and ends December 7th each year.

You can also purchase a Medicare supplement plan outside of these enrollment periods if you have a qualifying event, such as losing your job or moving to a new area.

If you are not sure when you are eligible to enroll in a Medicare supplement plan, you can talk to a Medicare specialist. They can help you understand your options and choose the plan that is right for you.

Here are some of the things to consider when choosing a Medicare supplement plan:

• The cost of the plan
• The coverage that the plan offers
• The network of doctors and hospitals that participate in the plan
• Your health needs

It is important to compare different plans and choose the one that is right for you. We can help you with that at Ashford Insurance Group.

If you have any questions about Medicare supplements or the enrollment periods, you can talk to a Medicare specialist by calling 817-952-3153. They can help you understand your options and choose the plan that is right for you.