Why you may not be able to count on this additional Medicare coverage

Personal Finance

Location is everything, especially when it comes to insurance that’s supposed to supplement your Medicare coverage.

Medigap is a form of insurance that will fill in for the areas where your own Medicare policy may fall short, such as deductibles, copayments and coinsurance. Some policies cover certain extras, like medical care when you’re traveling outside of the U.S.

Medigap supplements Medicare parts A and B, which cover hospital and physician’s visits. Medigap plans offer an array of different benefits that will vary and are distinguished by letter (A, B, C, D, F, G, K, L, M and N).

Federal law requires that you get a six-month period from when you first enroll in Medicare to buy a Medigap policy and do so without the insurance company digging into your health history and sticking you with higher premiums because of your medical conditions.

There are a handful of other situations in which a retiree may not be denied Medigap coverage; for instance, in the event you have Medicare and retiree health-care coverage through work and that employer plan is ending.

Source link

Products You May Like

Articles You May Like

J&J’s market value plunged after report on asbestos in its baby powder
Los Angeles passes regulation targeting Airbnb rental hosts
JP Morgan faces lawsuits after guilty pleas by a former metals trader
‘Facebook’s stock is bottoming’ thanks to Instagram, buyback
These two airline stocks are compelling buys, says strategist

Leave a Reply

Your email address will not be published. Required fields are marked *