Medicare Supplement Insurance

Medicare Supplement Insurance

Medicare Supplement Insurance is a great way for many seniors to lower medical costs. Although many seniors are enrolled in original medicare, original medicare does not cover all of an individuals medical costs. By reviewing a few medicare supplement insurance plans, you will be able to fill in the gaps that medicare doesn’t cover. Before we get into the specifics of Medicare Supplement Insurance Plans, we will give a brief overview of what original medicare insurance plans cover and how you will be made eligible for them.

Original Medicare is a health insurance program that is maintained and run by the U.S. Government.  Through Medicare you are offered a broad range of medical coverage at little to no cost.

When are you eligible for Medicare?

  • You are over 65 years old
  • You are under 65 with certain disabilities
  • You or your spouse paid Security Taxes for at least 10 years
  • You are a permanent resident of the U.S. or a legal citizen who lived in the U.S. for at least 5 years

Before choosing between Medicare Supplement Insurance Plans through BLV Insurance Servicesyou have to be covered under both parts of Original Medicare:  Medicare Part A and B.

Medicare Part A

Part A is completely free and helps you pay for:

  • Inpatient care in hospitals and skilled nursing facilities
  • Hospice and some home health services

Medicare Part B

Part B is not free and helps you pay for the cost of:

  • Doctors Services
  • Hospital outpatient care
  • Some home health services
  • Some physical and occupational therapy

What Medicare Part A and B do not cover

Now that you qualify, and have enrolled in Original Medicare both A and B, you need to know that Original Medicare does not cover ALL of your medical costs.  Medicare Supplement Insurance Plans are offered by private insurers to help pay your share (coinsurance, copays, or deductibles) of the costs of medicare-covered services.

What Medicare does not cover:

  • Deductibles, coinsurance, and copayments
  • Most dental care
  • Eye examinations related to prescribing glasses
  • Dentures
  • Cosmetic Surgery
  • Acupuncture
  • Hearing aids and exams for fitting them
  • Long-Term care (chronic illness or disability including personal care assistance)

Why choosing between Medicare Supplement Insurance Plans is important

Medicare Part A and B of Original Medicare covers about 80% of your medical coverage. You will be responsible for the remaining 20%. Medicare Supplemental Insurance will help you pay the remaining 20%.  There are a few different plans to purchase and ALL the benefits are established by the federal government.  In order to help you pick the correct Medicare Supplemental insurance plan, we would love to help you!  Feel free to reach out to us and a BLV Insurance Services representative will help you chose the right plan.