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Medicare Supplement Insurance with InsuringCT

Medicare is the U.S. federally funded health insurance plan to cover Americans 65 and older. It was designed to assist senior citizens with their medical expenses such as doctor's visits, prescription drugs, and hospital stays. In the 'old days' individuals worked many years for a company and earned health benefits that would take them through their retirement years. Many of those retiree health benefits are no longer offered by U.S. companies, leaving individuals nearing retirement with a sticky situation. No one wants to retire and see a health condition wipe out all their hard-earned savings, but Medicare is only part of the solution for most people.

Medicare benefits are divided into parts A, B, C, and D and are briefly described here:

Part A This section is hospital insurance and is generally free of premiums. It assists members with inpatient hospital care, hospice care, some nursing facility care, and some home health care.

Part B This section is medical insurance coverage and for a monthly premium, beneficiaries can receive financial assistance to pay for doctors and nursing services, outpatient care, medical treatment, lab tests, and medical equipment.

Part C This section lets private insurance companies approved by Medicare to offer low-cost alternatives to a Part A and Part B combination administered by the U.S. government.

Part D This section offers prescription drug benefits through private health insurance companies approved by Medicare, allowing beneficiaries greater access to affordable and necessary drugs.

While these descriptions are brief, they should underscore the fact that Medicare is not designed to cover all of a member's health care expenses. Even with Medicare coverage, a person over 65 who survives a medical hardship can lose a lot of their savings. Co-payments and deductibles, combined with medical expenses, can quickly add up making paying for regular medical care a struggle for many seniors.

Who needs Medicare Supplement Insurance?

While Medicare is designed to cover some of the medical costs for seniors, Medicare supplement insurance (sometimes called 'Medigap') can fill in the gaps with existing Medicare coverage – particularly parts A and B.

The benefits of purchasing a Medicare Supplement policy can include additional coverage for the following:

It's a safe investment because every Medicare supplement insurance policy has to adhere to rules defined by federal and state laws. Plus, these plans are guaranteed renewable, so even if you develop a health conditions, companies cannot cancel your policy as long as you continue paying your premiums. Contact InsuringCT today to learn more about the medicare supplement programs that are available in Connecticut.

Who is eligible for Medicare Supplement Insurance?

Individuals who are already covered by Medicare Part A and B and who are age 65 or older are eligible. The open enrollment window is six months after you sign up for Medicare Part B and during this period, insurance companies must allow you to purchase any supplement insurance plan available in Connecticut. In many cases, you can continue to see your regular doctor and go to any hospital as long as that doctor or hospital accepts Medicare.

For more information about Medicare Supplement plans and if they may be right for you, contact

CT Health Insurance Advisor