subject: Aspects Of Medicare Supplement Insurance Coverage [print this page] Aspects Of Medicare Supplement Insurance Coverage
Aside from the state of the economy as a whole, the U. S. Healthcare system is one of the mostly hotly debated issues facing the nation today. While almost everybody seems to agree that some changes are needed, nobody seems to agree on what those changes should be. While the debate goes on, you still need health insurance and Medicare supplement insurance is an affordable alternative for many Americans.
Older retirees and others who do not get health insurance at their place of employment often find that Medicare simply does not offer them adequate health protection. The Medicare program as it stands is meant to be just a safety net so that all Americans can acquire basic health care, no matter what their means. It is not intended to give full health care coverage.
The Medigap program stands between the basic coverage of Medicare and the more comprehensive coverages offered by private insurance companies. It is designed for that large portion of the American public who need affordable coverage to supplement their Medicare. In order to cater to a wide range of Americans, ten separate Medigap plans have been created.
All of these ten plans are fixed plans. This means that although you can purchase them through private insurance companies, the companies cannot alter them in any way. This is an important point to remember, because different companies will charge different premiums for each plan.
The methods the individual insurers use to set their premiums will vary. Generally speaking, though, they take factors like age and pre-existing health conditions into consideration. Older applicants and those in poor health usually must pay higher premiums.
If you are an older applicant, then it is advisable that you look into getting what is called a community-related or age related plan. These types of plans cost the same, no matter what your age. If you are a younger applicant in good health, you will probably prefer an issue-related plan, which favors younger, healthier applicants.
Study all the plans available carefully before you make your decision. Then, when you get your comparative quotes, you will be able to choose the cheapest identical plan available.
Remember, you need both adequate health care insurance and the cheapest Medicare supplement insurance you can get for your money. There are many factors to consider, so seek objective advice from Medicare or a community organization first. Only then will you be in a position to approach a private insurance company and get the best insurance for the best price possible.
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