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Medicare Supplement

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Medicare Supplement: “Supplemental Coverage for Medicare Limitations”

Medicare Supplement is created to cover the remaining portion that is not part of your insurance policy. Even if you have acquired Medicare, this doesn’t mean that it fully covers everything. Medicare only pays 80% of your medical costs that is why you are still left with a 20% obligation. When you are suffering from a condition, 20% would still mean a lot.

Know that Medicare has its coverage limitations and deductibles, thus making you accountable for the outside expenses. This policy helps you fill in the gaps in your insurance by taking responsibility of your remaining obligation. With the help of Medicare supplement, you get financial assistance, even outside of your Medicare coverage.

What should you know about Supplemental Medicare?

Medigap policies are available to anyone enrolled in Part A and Part B (hospital and medical insurance) of Medicare. Open enrollment, a time frame in which you cannot be declined coverage, begins either when you first enroll in Part B or when you turn 65. This six-month window is the best time to purchase your Medigap policy.

Your Medigap premium will be an additional charge on top of your Medicare Part B premium (Part A is free), and in return you will receive more comprehensive coverage for your health care needs. If you have a Medicare Advantage Plan (Part C), be sure to cancel your coverage before your Medigap policy begins.

Why do you need Supplemental Medicare?

It is important to remember that Medicare does not completely cover your health care costs. A supplemental plan ensures a broader range of coverage so you do not have to pay out-of-pocket with each doctor visit. A low monthly premium will give you peace of mind as your need for health care grows.

Contact us today to learn more about the 10 Medigap plans and what they can offer you. We will gladly answer any questions and help you select the plan that best meets your needs.

Sullivan Financial Group in Bergen County, New Jersey is a widely-recognized insurance and financial services company. Our insurance services are available for all residents in New Jersey. Our office is currently located in Bergen County and we will be happy to help you find an insurance plan that fits your budget and your needs. We can be reached online by sending a message, visit our office at 567 Broadway, Westwood, NJ 07675 or feel free to give us a call at 201-497-3334.

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