Medicare helps lower your medical costs, but it doesn’t eliminate them. Medical Supplement insurance plans in Texas can help reduce those costs even more. Known as “Medigap,” these policies help lower your out-of-pocket expenses. If you have Medicare Part A and Part B, you may be a good candidate for Medigap, too.
Medicare Supplement insurance plans can help you with some of the following:
Only a few of the Medicare Supplement insurance plans in Texas offer coverage for the following:
If you need any of the above coverage options, make sure you look closely at policies to see if they offer what you need.
If you want any of the above benefits, you should look into Medicare Part D for prescription coverage or Medicare Advantage (Part C) for all of the above in one policy.
If you want a Medigap plan, you must buy it from an independent insurance agent. First, you must enroll in Medicare Part A and/or Part B; then, you can shop for the right Medicare Supplement insurance plan.
You’ll probably pay a monthly premium for your Medicare Supplement insurance plan, which you pay separately from your Medicare Part B premium. When you have a medical service, your Original Medicare (Part A or Part B) will cover a portion first. Whatever is left is what your Medigap policy pays a portion of, depending on your coverage.
Medicare gives you a big window to sign up for supplement insurance, which starts when you enroll in Medicare Part B and continues for six months. This is the best time to choose one of the Medicare Supplement insurance plans in Texas.
If you enroll in a Medigap policy during this time, you bypass medical underwriting. In other words, you can get the policy even with pre-existing conditions. You won’t pay higher premiums, and you eliminate the risk of being denied.
If you wait until after the six-month period ends, those benefits end and you will have to go through medical underwriting. This could mean that you run the risk of having your pre-existing condition excluded. You may also be denied for coverage altogether, or, if nothing else, you may pay higher premiums.
You have many options for Medicare Supplement insurance plans in Texas. Take your time and choose the plan that makes financial sense, as your supplement plan can help make medical services more affordable.