Medicare Supplement Insurance In Fallston, MD

You worked hard for many years and when it comes time for retirement, you can relax because you have medical insurance from the government. However, standard Medicare doesn't pay for everything and there are deductibles and co-pays to consider. That is why many retirees are opting for Medicare Supplement Insurance, and it's very important to choose the right policy for your situation. Let's take the case of Stephen and Joan S of Fallston, Maryland.

When Stephen retired, he and his wife Joan could finally spend time traveling and visiting foreign countries. While in Europe, Stephen suddenly became ill with the flu, and required emergency medical care. The couple was not too concerned because Stephen had purchased supplemental coverage when he retired. However, when Stephen was checking out of the hospital, he got a huge surprise. His policy did not provide foreign benefits, and now the couple faced financial problems that would set back their future travel plans for some time. Stephen thought that most Medigap Insurance policies were pretty much the same, but it turned out he was wrong.

What Is Medical Supplement Insurance?

Once you retire and you qualify for Medicare you have the option of purchasing additional coverage. This covers most medical situations, but not everything. Supplemental insurance fills in those coverage "gaps" and that is why it is often referred to as Medigap coverage.

Do I Need A Supplemental Insurance Policy?

If all you have is Medicare coverage you may want to consider a supplement. This includes people retiring at 65 and those on disability retirement. However, if you have chosen to enroll in a Medicare HMO or PPO, these policies cover may provide sufficient coverage. But, you will be limited on choices for doctors, health care providers, and pharmacies.

Are There Standard Medicare Supplement Insurance Policies?

In Maryland, you have the choice of several policy types and each one begins with a letter. Type A could be considered standard or minimal coverage and it will pay for:

  • Copays and hospital expenses associated with Part A Medicare (not including hospital deductible).
  • Coinsurance for Part B Medicare
  • Hospice care for Part B Medicare
  • First 3 pints of blood
  • Does not cover foreign travel

What Options Do I Have For Coverage?

Here are the highlights of some of the available options for Medigap Insurance. They all provide the same coverage as type A, with added benefits:

  • Type B supplemental policy - Covers hospital deductible ($1260 for 2015)
  • C - Coverage same as type B with the addition of nursing care deductible, Medicare Part B deductible, and it will pay 80 percent of medical expenses associated with foreign travel. Of course your plan may have a payment limits.
  • D - Same as C but does not cover Part B deductible amount.
  • G - Same as C but also covers excess charges from Part B Medicare.

Other plans may be available depending on the provider. As you can see, there are many different options to consider. Plan types are pretty much the same from one provider to another, because the United States government regulates the plans. However, there could be some major differences in the policy costs from one insurer to another.

Finding The Best Medical Supplement Insurance Policy For Your Needs

To get the best policy, you may need to contact a number of insurance companies. Next, you'll want to make detailed comparisons of each plan. You also should compare prices and this can take a great deal of time and effort. However, there is a much easier way to make sure you get the very best policy at the lowest possible prices. All you have to do is choose a trusted insurance brokerage that takes care of all this hard work for you.

Working With Insurance Specialists

An insurance specialist is a broker that represents many top rated insurance companies in Maryland. These people have access to a wide range of services, policies, and options. When you work with insurance specialists like American Insurance & Financial Services, you will realize a host of benefits, such as:

  • Insurance companies that are A+ rated and have many years of experience.
  • 17 different types of discounts that you are probably not aware of. With that many ways to save, you are sure to receive some of the lowest Medigap Insurance rates available.
  • You may be paying too much for your insurance - American Insurance & Financial Services can save you as much as 37 percent on some policies.
  • We do all of the searching, comparing, pricing, and insurance policy research for you. Not only that, these services do not cost you anything, and they save you money in the process.
  • Local people - we are local just like you and not some faceless large corporation. Also, we do not outsource our work to foreign countries.
  • No tricks - American Insurance & Financial Services does not use cartoon characters or talking animals to promote the company. After all, why should you listen to someone that isn't real?
  • Experience - we have been helping people in Fallston since the mid 1990s.