Medicare Supplement Insurance: Coverage beyond Original Medicare

Medicare is designed to cover 80% of healthcare cost, so many people on Medicare purchase Medicare Supplement Policies, also known as Medigap. Medicare Supplement policies are standardized and are designed to pay Medicare approved changes not covered by Medicare. Companies sell various Medicare Supplement plans to cover Medicare’s Co-Insurance and Deductibles. The plans vary in coverage and cost. If you are like many Americans on Original Medicare, you may find that you would benefit from additional coverage for your healthcare needs. Medicare Supplement insurance can provide the extra financial protection you need. Also known as Medigap, Medicare Supplement Insurance policies are available through private companies to cover those costs not covered through Original Medicare (Medicare Parts A and B). The team at William J. Goodman Insurance, Ltd cares deeply about our clients, and we can help you find the right policy for your needs at a price that works within your budget. Contact us today if you live in Chicago, Homewood, Joliet, Orland Park or surrounding areas, and let’s explore your options.

Medicare Supplement Eligibility

To be eligible for a Medicare Supplement plan, you must already be enrolled in Medicare Part A and Part B. Medicare part A and B coverage can be obtained upon reaching age 65 or through disability. You cannot be covered by a Medicare Supplement (Medigap) plan and a Medicare Advantage plan at the same time.

About Medicare Supplement Plans

Medicare Supplement Plans provide privately funded coverage in addition to existing Medicare Original plans. These policies are commonly used to cover costs for deductibles, copays and coinsurance. They do not cover the cost of long-term, vision or dental care. Even with coverage from original Medicare Part A (hospital insurance) and Part B (medical insurance), these remaining fees can cause financial strain. Medicare Supplement Plans are an affordable add-on option that can help mitigate these costs.
Medicare Supplement Plans are different from Medicare Advantage Plans. Medicare Supplement Plans pay after Original Medicare vs Medicare Advantage Plans that pay instead of Original Medicare. It is also important to note that Medicare Supplement Plans are not designed to cover prescription drug costs. For those costs, you may want to consider a Medicare Prescription Drug Plan (Part D) or Medicare Advantage Prescription Drug (MAPD) plan. Our experienced agents can help you understand the benefits of each option.

The Right Plan for You!

The William J. Goodman Insurance, Ltd agency team will help you understand what costs are covered through Medicare Supplement policies (Medigap) and help you choose the right level of coverage for those costs that aren’t covered through Original Medicare. Contact us if you live in Chicago, Homewood, Joliet, Orland Park or surrounding communities. We can find a Medicare Supplement policy that keeps you covered against planned and unplanned medical costs. Medicare Supplement – Chicago, IL – Homewood, IL – Joliet, IL – Orland Park, IL – William J. Goodman Insurance, Ltd. Learn more about Medicare Supplement policies from William J. Goodman Insurance, Ltd. serving Chicago, IL, and surrounding communities!