Why do you need supplement insurance with Medicare?

Medicare supplement insurance proves most beneficial to those aged 65 and older who have to spend a considerable amount of money on drugs and treatment for health purposes. It is the rising medical costs and the many loopholes in Medicare programs that make seniors look for additional sources of coverage. This gap between your existing Medicare insurance and your required additional treatment or medical coverage is filled by Medicare supplemental insurance.

Medicare only covers 80% of medical expenses

Many are of the impression that Medicare provides health, dental and vision insurance; on the contrary, Medicare doesn’t cover everything. As Medicare is funded by the government, it doesn’t cover other health issues. It only pays about 80% of the expenses, that too only if you have paid a deductible. For complete coverage, you require Medicare supplement insurance to fill these gaps.

Monthly premium is worth it

Some of the things not covered by Medicare include some of your regular prescription drugs, medical coverage required when you travel abroad or if you have to stay in the hospital for treatment purposes.

To avoid paying all of these things out of your own pocket, you need to get a Medicare supplement insurance policy from a private company. You have to pay a monthly premium for the insurance policy, which is well worth the expense. In fact, based on the plan, Medicare supplement insurance can cover 100% of your Medicare approved services and thus spare you a possible financial nightmare during a medical crisis.

Helpful in medical emergencies

Medicare supplement insurance also provides dental and vision insurance; so you know your eyes and teeth are well taken care of without your needing to put much of a strain on your wallet. There are quite a few comfortably priced dental and vision supplement plans to choose from, which you have to choose based on the coverage required.

So in a nutshell, if you wonder why you need to get a supplement Medicare insurance, it is mainly because it protects you from footing bills for all your medical emergency costs and in the process, prevents financial nightmares.

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