One of the best resources that you can consider purchasing when you are on Medicare is a Medicare supplement plan, mostly because a supplement plan can help you expand coverage and cut down on your medical expenses. Listed below are two reasons to consider a Medicare supplement plan.
You Cannot Be Denied Coverage
One of the biggest reasons to consider a Medicare supplement plan is the fact that you cannot be denied coverage. Essentially, if you qualify to be on Medicare, the insurance providers that provide a Medicare supplement plan are not able to deny you for a pre-existing condition.
What these insurance companies can do is institute a waiting period before you are able to use the supplement plan. However, in most cases, this is not going to be all that big of a deal as the government dictates that the waiting period cannot exceed six months. In some cases, the insurance companies may actually get rid of that waiting period or choose to go for a much shorter waiting period.
You Will Be Able To Save A Lot Of Money
Another reason to consider a Medicare supplement plan is that you will be able to save a lot of money. A primary reason for this is that many Medicare supplement plans will step in to cover co-payments for your appointments and prescription medications, which can add up to a lot of money if you have to go to the doctor repeatedly in a single month or are on a number of required prescription medications.
In addition, a Medicare supplement plan will also save you money by increasing the amount of coverage that you are eligible for before you have to start paying out-of-pocket. A prime example of this is any hospital stay that you may have to endure. In many cases, Medicare will only pay for several nights in the hospital before you must either leave the hospital or start paying out-of-pocket, whereas a Medicare supplement plan will actually cover even more nights in the hospital on top of what Medicare covers so that you are much less likely to have to dip into your savings for a necessary hospital stay.
Contact an insurance provider today in order to discuss the various benefits that a Medicare supplement plan can provide and to determine just how much a supplement plan can expand your coverage. You will want to consider a Medicare supplement plan because you cannot be denied coverage and you will be able to save a lot of money. Companies like Alabama Medicare Plans can help you explore your options.