You must have heard about burning a hole in your pocket right? Yes, with rising medical costs it has become a very important part of budgeting. Medical insurance is a term we are aware of now, more than are ancestors were. Now, there are different kinds of medical insurance plans each having a different set of features.
Enrolling in a medicare supplement plan for 2019 can help you avoid surplus medical bills.
With the rise in lifestyle diseases and rising costs, it is now imperative to purchase medical insurance for yourself and all your dependent family members.
Let us see why it is necessary?
- Increase in occurrence of lifestyle diseases –
Now, people live well past the age of 60 years, which can go upto 100 years. With advancement in medical technology, people have started living longer. However, there has been a change in habits, stress-levels and pollution as well. This gives rise to a lot of new diseases which were unheard of in the past.
- Group Healthcare Plan –
Staff welfare in Companies have various group plans for employees, however they have their own limits. And these will cover you only, when you are working for an employer for fairly long period of time. If you decide to leave your job and look for a change, in the meanwhile you have no coverage. If something happens to you or any of your family members during this gap, it has to be incurred by you.
Medicare Supplement Plans
This is something new and definitely useful. These plans supplement the normal medical insurance, as the name suggests. There are about ten different Medicare supplement plans available in most states nowadays. They are also called Medigap plans. The plans are Medigap A, B, C, D, F, G, K, L, M and N.
Various benefits of Medicare supplement plans
- The plans and offers benefits after the exhaustion of normal medical insurance. Its limit is 365 days.
- They pay for skilled nurse’s service, which is not covered in your normal medical insurance.
- They pay for medical emergency during foreign sojourns.
- Plan F is also available in high deductibles situations.
- You should also purchase Medicare Plan A and B together.
- There are special benefits for senior citizens.
- The Medicare Supplement Company will pay the extra costs which are not covered in general medical insurance, directly to the hospital. Hence, you do not face any hassles.
With so many benefits under one umbrella, why would you not invest in Medicare supplement plans? You should go for it and protect yourself and your family.