The Health Is An Asset So Keep It Secured With Medigap Plans

Posted: Feb 8th, 2010 | Rating: 0/5 | Comments: 0 | Views: 8 | Rank Points: 80 |

Health is our asset and everyone should take care of our health. It is very much needful and necessary. It can be said that if anyone has no health then she or he can not be wealthy ever. Health is man’s wealth. But after you get retired from your job and you have a limited amount of money then your tension and worry about your health becomes double. The reasons are you have limited income and the old age is in itself a reason of tension. Health insurance plan like Medicare original plan is one of these types insurance which supports your bill and treatment expenses and give you relief from extra worry after meeting sudden illness or better to say accident.

But it is always seen that in Medicare original you will not get the complete benefits and coverage after your treatment or before the treatment when you will need the money and claim that from the insurance. It is a governmental insurance policy. So it can be seen that between the original expenses and the benefits given by the Medicare original policy there always can be found a lapse or gap to be filed up. It is very difficult to make the gap for the policy holder. The picture is clear here as you will need a supplemental Medicare plan to support your original Medicare plan and all in a small amount of money. The Medicare supplemental plan is really helpful and supportive to your original Medicare plan. There are various companies to provide the benefits of Medicare supplemental health insurance plan. They are all private but they have to follow the common rules made for the Medicare supplemental insurance or medigap insurance plan exclusively. The name medigap also suggestive of its function as it clearly signifies that it bridges the gap between the Medicare plan and the real expenses that have to be spent by the patient and by the policy holder.

To go for a Medicare supplement insurance plan a person is required to be enrolled in part A and B of original Medicare before they can go for a Medigap Health Insurance Plans. A person may obtain a Medigap insurance plan on a guaranteed issue basis during the open enrollment period, which begins within 6 months of turning 65 or enrolling in Medicare Part B at 65 or older. In this period you do not have to go for a medical screening. It is not mandatory. But apart from that open enrollment the company from which you are getting insurance policy may put forth the requirement of medical screening and also may obtain an attending physician’s statement if it is felt necessary. Another important rather very important thing is this policy is not compatible with any other types of heath plan such as Medicare Advantage plan. And also medigap plan is possible only when you have already done Medicare plan if not the plan will not be possible.

There are total 12 plans named after English alphabet starting from A and ends with L. Each plan provides different sets of benefits. In 2006 it has been clearly stated that the Medigap insurance Plans H, I, and J, cannot be sold to people with prescription to drug benefits.

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