Supplement This – Health Insurance Basics

If you need a Medicare supplement, knowing your options is important when it comes to making decisions. If you aren’t certain what is right for you, supplements or Medicare Advantage, talk to your insurance broker.

A supplement usually means something extra you get to make what you already have just a bit better. Like eating a healthy diet can be supplemented by good quality vitamins. In the case of health insurance policies, you have the regular choices of the Medicare plans and a choice of Medigap policies to fill in the “gaps” in your Medicare insurance.

No insurance policy is totally perfect, but you will be able to come close enough to perfect and find something that suits you by discussing your needs with a health insurance agent.

Medicare and Medigap weren’t designed to work together. In fact, Medicare was supposed to handle everything. Inevitably, the longer Medicare was around the more “gaps” popped up that had to be filled. Enter Medigap policies. You need to know that Medigap offers certain specific benefits and they are all the same across the board.

The fact that the various policies offer you specific benefits is good for you because that gives you choices. In fact, you have the option to choose from 12 different policies – Plans A through L. Even though each plan is different, they are all the same across the country.

Here’s something else you need to know as well– health insurance and Medicare all follow state and federal laws because they must. This means Medigap policies are mandated to follow the same laws, so you can see how the total package would be tailored to meet your needs.

What about Medicare Advantage plans? A lot of people wonder if they really do offer an advantage. That depends on how you look at it and then the answer would be yes and no.

Simply put, Medicare Advantage Plans may be an advantage for people, but it just depends on what they need. Others feel they’re too expensive for their needs. This is when you talk to your insurance broker for information.

There are people looking for total coverage. The kind of coverage where they don’t have to pay a dime for any of the services they receive. There will also be others who are able to afford to pay the 20% difference between what the physician charges and the insurance company pays. Both these groups have different needs. How they are serviced is the key.

Let’s say you are in a smaller network with a doctor you like. Things are going well, but the doctor decides to opt out of the network. Unless you choose to try and follow your doctor, you are without medical service. Following your doctor doesn’t always work either.

You may be able to see the doctor, but have to pay the total bill. If your doctor goes the fee for service route, they may refuse to accept the terms of the plan.

As you can see there are some difficult choices you need to make. If you choose to go with private health insurance, you may be thinking that you’re covered. That isn’t always the case, as the insurance company might say they don’t have to cover your case.

To get Medicare Advantage or not, and to go private, are personal questions you have to resolve. However, for coverage that likely makes the most sense, Medicare supplements seem to be the better route.

Randy Gillespie is with Illinois health insurance agency, Focus Insurance Group. To learn more about Illinois Medicare, health insurance, group health insurance or to get an Illinois health insurance quotes, visit Focusinsgroup.com

Tags: Illinois group health insurance, Illinois health insurance, Illinois health insurance quotes

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