Medicare Supplements: What are they and Why are they Important?

Though original Medicare provides adequate insurance for mostly serious circumstances, there are often lapses between the coverage Medicare provides and the health care services rendered to patients. This means that Medicare recipients are responsible for paying the out of pocket costs for various health services that original Medicare fails to cover. There is a solution, however, in the form of Medicare Supplemental Insurance, which is insurance responsible for filling in the "gaps" of coverage left over by standard Medicare policies.

Medicare recipients receive insurance that is divided into two categories, Medicare Part A and Medicare Part B. Specific gaps exist in each category.

The first category, Medicare Part A, covers inpatient hospital costs, inpatient nursing facilities, health care at home, and hospice services. The gaps in Part A are hospital deductibles, hospital coinsurance payments, hospital stays over 150 days, nursing facility coinsurance payments and stays over 100 days, and certain home health aide services. The "gaps" can quickly add up and easily turn a comfortable financial background into an unstable and rocky situation.

Medicare Part B covers outpatient and physician services, medical equipment, prosthetic devices, and ambulance transportation. The gaps in Part B are an annual deductible, a 20% coinsurance charge, and general fees that result from doctors charging more than Medicare actually covers.

Seniors without Medicare Supplemental Insurance can be charged enormous fees if they happen to need medical care for long periods of time, or if they happen to have a serious medical emergency that they weren’t adequately prepared for. The costs involved can become endless, causing serious financial strain on any Medicare recipient with only the standard amount of coverage.

Like all insurance, you can never be over-prepared for disaster. There is always the need for better coverage to provide for the contingencies that occur in day to day life. Medicare recipients are encouraged to purchase supplemental insurance and all new Medicare beneficiaries are entitled to a Medicare Supplemental insurance policy. Seniors who are Medicare beneficiaries are guaranteed by law to be issued Medicare Supplemental Insurance policies of their desired choice. Also, seniors cannot be forced to prove insurability, meaning they do not have to pass a physical examination to identify pre-existing medical conditions. Medicare Supplement Insurance is the wise choice for seniors who do not feel secure with only standardized Medicare coverage and want to cover all of their vulnerabilities when seeking medical care.