For the average American consumer, it can be a confounding and frustrating journey in trying to connect the dots between all of the different health insurance plans out there whether shopping between different insurance companies, worrying about other financial situations, and seeking to most effectively utilize every penny we have, who has time to consider whether you need Medigap insurance?
Although fiscal endeavors can often seem like a murky maze of unanswered questions and difficult to find solid information on, in the case of Medigap insurance, there are only a few basic questions you need to ask in order to determine if it is something you should begin considering.
1. Do you have, or are considering gaining, Medicare coverage?
Medicare is the basic federal health insurance provided for both older persons and younger persons with applicable special needs. Already, you can safely know that if you do not fit into either of these categories, you do not need Medigap insurance from any insurance companies whatsoever!
2. Does your Medicare plan have “gaps” in its coverage?
Many people who are currently under a Medicare plan may notice that there are “gaps” in their coverage whether in costs to treatments, visits, therapy, procedures, etc. Medigap insurance exists specifically for this need, in the form of various private, supplemental health insurance plans sold to Medicare beneficiaries. Medigap can provide for medical expenses not or only partially covered by Medicare, and exists in standardized plans to choose from.
3. Are you willing to research the best plan for you?
Most Medicare recipients do not take advantage of Medigap insurance coverage. Many are not even aware that it is an option for them; and, once you are aware, there is still a lot of information to research. If, though, you find that Medigap coverage can provide for those portions of your healthcare costs that Medicaid lacks, then you may want to seriously consider a Medigap plan.
If Medigap sounds like it may be beneficial to you, an excellent, comprehensive guide to Medigap coverage from the National Council On Aging can be found at http://www.ncoa.org/Downloads/MedigapInsurance2006.pdf, or from the federal Medicare body itself at http://www.medicare.gov/Publications/Pubs/pdf/02110.pdf.