Thursday, October 7, 2021

How to Determine if You're Eligible for a Medicare Supplement

Have you been utilizing Medicare benefits since turning 65? Have you been growing increasingly concerned about your cost-sharing obligations with Medicare as these unprecedented times are beginning to take a toll on your monthly and yearly healthcare budgeting plans?

Are you now wondering what you can do to fill the gaps in coverage? If all of these questions apply, then you are likely interested in acquiring a Medicare supplement plan. Here is a quick guide about Medicare supplement plans to address eligibility determination.

Eligibility Requirements

If you are 65 years of age or older, then you have fulfilled one of the primary requirements to enroll in a Medicare supplement plan. The other requirement is that you are currently enrolled in Medicare Parts A and B. 

You may also be eligible for this type of health insurance coverage if you are under 65 years of age and are eligible for Medicare due to disability.


Medicare supplement plans are designed to help pay your out-of-pocket costs. As you have experienced when using Medicare, you are responsible for the deductibles, copays, and 20% when visiting your healthcare provider. A Medicare supplement or Medigap plan can pay a portion or all of your out-of-pocket costs with added benefits.

Is It Right for You?

Now that you have learned the requirements to be eligible for a Medigap plan, you may now be wondering whether or not this type of plan will benefit you. 

It would be advantageous to acquire coverage if you suffer from a chronic health condition and would like to implement a predictable solution to your healthcare costs. When determining coverage, you may also want to consider how often and frequently you utilize healthcare services.

Types of Medigap Plans

There are ten types of Medigap plans and each can provide you with a robust and complete solution for all your healthcare needs. Generally, all plans will provide benefits to help pay for Medicare Part A coinsurance and hospital costs at an additional 365 days after Medicare benefits are exhausted.

Where to Obtain Coverage Help and When to Enroll

There are several private healthcare insurance companies that offer Medicare supplement plans. To save time, consider visiting a one-stop-shop Medigap website that allows you to compare plans from different health insurers like Silver American

You can enroll in this type of plan as soon as you have acquired Medicare Part B coverage. There are no specific dates to enroll in a Medigap plan, so you can choose the date. There is a six-month open enrollment period where you will be guaranteed coverage regardless of your health status

After the open enrollment period, you may still apply for coverage but will likely be subjected to health questions and are not guaranteed acceptance.

Your healthcare costs can now be more predictable to help support your daily, monthly, and yearly budgeting plans when enrolling for a Medicare supplement or Medigap plan. 

Remember to consider the frequency of your visits to your healthcare professional as a factor in determining the right supplement plan for your needs.

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