Medicare Supplemental Insurance

Before you decide to purchase a Medicare Supplemental Insurance package it’s important to understand what the original government sponsored Medicare program has to offer.

Despite what many people think Medicare is a flexible program that may allow you to receive the healthcare that you need without purchasing additional insurance.

There are also a number of Medicare Supplements that can provide excellent coverage at a fraction of the cost of many health insurance add ons.

Medicare Basics

The original Medicare program provides Medicare Part A and Medicare Part B coverage. Part A and Part B pays for a large portion of healthcare cost. The majority of health related services and supplies are covered.

However, co-payments and deductible fees are not covered. If you are visiting the doctor frequently these costs can add up and a Medigap or Medicare Supplemental Insurance policy is a good option.

You must have Medicare Part A and Medicare Part B to purchase a Medigap or Medicare Supplemental insurance policy.

Medicare Part C

Medicare Part C is not covered under the original government sponsored program. Part C is commonly referred to as Medicare Advantage Plans These plans are approved by Medicare but must be purchased from private insurance companies.

Medicare Advantage plans can be a better and cheaper option than the newer Medigap insurance products for certain people. Read our Medicare Advantage Plan page to find out if this is the right kind of policy for you.

Many people purchase a Medigap or Medicare supplemental insurance policy and then later find out that a Medicare Advantage Plan is a better option. If you make this switch you cannot use your Medigap policy to cover the deductibles and co-payments for your Medical Advantage Plan.

Don’t make this mistake. Find out if the Medicare Advantage Plan is the right choice for you before purchasing a costly Medigap policy.

Medicare Part D

Medicare Part D also known as Medicare Prescription Drug Coverage is offered by private insurance companies that are approved by Medicare. Part D is not part of the original government sponsored Medicare policy. You have to purchase Part D separately.

Many Medicare Advantage Plans also include the Medicare Prescription Drug Coverage. So be sure to fully examine your Medicare Advantage Plan before purchasing Medicare Part D.

It often makes sense from a cost standpoint to purchase a Medicare Advantage Plan that includes Part D rather than purchasing part D separately. Although the Advantage plan is more costly the added healthcare benefits more than make up for the additional costs.

Read our Medicare Part D page for additional information on Medicare Prescription Drug Coverage.

With the rising cost of healthcare, Medicare Insurance Supplements are gaining in popularity. Depending on your specific needs these plans can provide the healthcare protection that you need at affordable prices.

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