MEDICARE SUPPLEMENT
VLG Insurance Services is a proud provider of Medicare Supplement coverage. A Medicare supplement policy, also known as Medigap insurance, is a type of standardized health insurance policy sold by private insurers to help fill the “gaps” in Original Medicare coverage. Original Medicare, which includes Part A (hospital insurance) and Part B (medical insurance), provides coverage for many healthcare services, but it does not cover all costs.
Original Medicare coverage is insufficient for most individuals who have an estate to bequeath their heirs. Medicare supplement policies provide peace of mind and financial protection against high healthcare costs, especially for individuals who anticipate needing frequent medical services or who want to minimize their out-of-pocket expenses under Medicare. A majority of Americans will need in-home care and/or skilled nursing facilities. Without a Medicare supplement, your estate will be on the hook for these expenses, or you will be in a crowded hospital room with basic Medicare coverage.
Why buy a Medicare Supplement?
COVERAGE OF DEDUCTIBLES, COINSURANCE, AND COPAYMENTS
Medicare supplement policies help pay for out-of-pocket costs that Original Medicare doesn’t cover, such as deductibles, coinsurance, and copayments for Medicare-covered services.
COVERAGE FOR HEALTHCARE SERVICES OUTSIDE THE U.S.
Some Medicare supplement plans offer coverage for emergency medical care received while traveling outside the United States, which is not covered by Original Medicare.
FREEDOM TO CHOOSE PROVIDERS
With Medicare supplement insurance, you can typically visit any doctor or healthcare provider who accepts Medicare patients without needing referrals or going through a network. This flexibility can be valuable for individuals who want to maintain relationships with specific healthcare providers.
GUARANTEED RENEWABILITY
Medicare supplement policies are guaranteed renewable as long as you pay your premiums on time. This means the insurance company cannot cancel your policy if you continue to pay the premiums, regardless of any health conditions you develop.
PREDICTABLE COSTS
Medicare supplement policies often offer predictable out-of-pocket costs, as they help to standardize expenses related to Medicare-covered services. This can help individuals budget for healthcare expenses more effectively, especially for those on fixed incomes.
MEDICARE SUPPLEMENT PLAN STANDARDIZATION
Medicare supplement plans are standardized by the federal government, which means that the benefits offered by each plan type (e.g., Plan A, Plan B, etc.) are the same, regardless of the insurance company selling the policy. This makes it easier for beneficiaries to compare plans and choose the one that best fits their needs.