As most senior citizens discover at retirement age, the Medicare health care coverage has its limitations. Generally speaking, it covers approximately eighty percent of the cost of many health care procedures. There are copayments for doctor visits and deductibles for many necessary tests. As a Charlotte Insurance Broker can more fully explain, each company that offers the Medicare Supplemental policies has its own structure of payments and benefits.
Before taking out a supplemental policy each person must have Medicare Part A and Part B. A premium is charged monthly for the Part B. It is customary to have it taken out of the monthly Social Security check each month for convenience sake.
In addition to paying for Part B, any premium for a supplemental policy must be paid to the company selling that policy. It can also be taken out of the monthly check for convenience. This supplemental policy will pay part or all of the twenty percent not covered by Medicare.
Each policy holder should keep in mind that it is the company that sets the percentages and determines what care is covered. The plan is often called a Medicare Advantage Plan and is an HMO. Often, prescription drugs are included in the covered services.
Every senior should be made aware of the rule regarding drug coverage. If he does not carry prescription drug coverage, he may be penalized in the future. There is a late enrollment penalty imposed at the time of taking out a drug coverage policy if you have not had one before, or if it has lapsed for 63 days or more.
Each person should shop around and investigate prices. Each plan may offer something beneficial to him that other policies do not. It all depends on whether you may need surgery. It also depends on the likelihood of you needing long-term care in a rehabilitation facility. There may be features such as home care in one policy but not another.
Before taking out a supplemental policy each person must have Medicare Part A and Part B. A premium is charged monthly for the Part B. It is customary to have it taken out of the monthly Social Security check each month for convenience sake.
In addition to paying for Part B, any premium for a supplemental policy must be paid to the company selling that policy. It can also be taken out of the monthly check for convenience. This supplemental policy will pay part or all of the twenty percent not covered by Medicare.
Each policy holder should keep in mind that it is the company that sets the percentages and determines what care is covered. The plan is often called a Medicare Advantage Plan and is an HMO. Often, prescription drugs are included in the covered services.
Every senior should be made aware of the rule regarding drug coverage. If he does not carry prescription drug coverage, he may be penalized in the future. There is a late enrollment penalty imposed at the time of taking out a drug coverage policy if you have not had one before, or if it has lapsed for 63 days or more.
Each person should shop around and investigate prices. Each plan may offer something beneficial to him that other policies do not. It all depends on whether you may need surgery. It also depends on the likelihood of you needing long-term care in a rehabilitation facility. There may be features such as home care in one policy but not another.
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