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February 1, 2008
Medicare doesn’t pay all medical expenses so Medicare (Medigap) Supplement Insurance was designed to help pay these costs. You must remember, if Medicare doesn’t pay on a medical expense, neither will your Medicare Supplement.
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Who Can Purchase a Medicare Supplement Policy?Generally, you must have enrolled in Medicare Part A and Part B. You will have to pay the monthly premium of $93.50 for Medicare Part B and you will have to pay a premium for the Medicare Supplement policy. Your policy will automatically renew each year, as long as you pay your premium. You and your spouse must purchase separate Medicare Supplement policies. Medicare Consists Of . . .Part “A” - Commonly referred to as “hospital insurance”. It helps pay for care in a hospital, hospice care facility, home health care and, under certain conditions, skilled nursing facility care for a limited period of time. Most people do not pay for Medicare Part A because they or a spouse have 40 or more quarters of Medicare covered employment. There is a premium for Part A for those who otherwise qualify, who have less than 40 quarters of Medicare covered employment.
Part “B” - Commonly referred to as “medical insurance”. It helps pay doctor’s charges, outpatient care and other medical expenses. Most people do pay for Medicare Part B. The premium for 2007 is $93.50. For More Information: Each person’s situation will vary and only after professional counseling with an insurance professional can the right program be suggested. You should not allow yourself to be pressured into enrolling in any program until you are absolutely satisfied that it is the right program for you.
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