Many senior citizens are now finding that a good supplemental plan is helpful to flesh out their medicare coverage. It’s important however to research every option very carefully before choosing. To answer the question, “What is the best medicare supplemental insurance?” depends on what a person is looking for and the costs involved.
A supplement isn’t your main coverage but another policy used to augment your principal plan. The best medicare supplemental insurance will be a matter of what your needs are or will be. There are certain aspects that you should to be aware of so you won’t spend more than you need to. Medicare supplements are standardized, meaning that most companies should offer the same coverage for a general price. The exception will be what you add to the supplement above and beyond any standardized policy.
In addition to price and coverage, be wary of any company that may say that they don’t require you to file a claim. A supplemental insurance company doesn’t have any say in this matter. This will depend on your doctor or any other health care provider you have. A “supplemental” policy is there to help with your main coverage and has no jurisdiction over their regulations and requirements.
Be aware that as you get older your payments will go up on a regular standardized medicare supplement plan. You can lessen the impact of raising costs if you buy what is called an “Issue-Age” or “Community-Rated” Medigap policy. Policies of this type will be a bit more expensive in the beginning, but they are the best supplemental plans in the long run. This is due to the fact that premiums won’t go up as you get older. This saves you a lot of money in the long run.
In 2010 many insurance supplement changes where implemented to fill gaps in what has not been covered in previous years. Information concerning these changes can be found at www.medicare.gov/publications/pubs/pd.