North Carolina Medigap Insurance Buy During The Open Enrollment
When you reach the age of 65 and have signed up for Medicare, you will have six months to purchase a North Carolina Medigap Insurance policy and cannot be denied coverage. This type of insurance is a supplemental policy that works in conjunction with original Medicare plan. The savings that is realized in retirement with a supplemental policy can be significant, and in some cases, it will protect your assets in situations of a serious illness. The six months of time you should buy your policy is considered an Open Enrollment period. By obtaining North Carolina Medigap Insurance within this time frame, you will avoid being charged for pre-existing conditions and cannot be denied coverage. Many know these plans a Medicare Supplement insurance also.
Medigap Plans in North Carolina Can Help Cover the Gaps
A North Carolina Medigap plan will cover much of the gap that exists between Medicare and your medical bills. Medicare will cover about 80 percent of approved treatments and expenses related to your health care. Having a supplemental policy to cover the balance of your bill is very helpful.
A North Carolina Medigap plan, with basic coverage, can pay all or some of the 20 percent of the unpaid medical bill under Parts A and B of Medicare. This basic coverage is a part of all Medicare Supplemental insurance policies. There are currently 10 different plans that you can choose from. These policies are standardized and are the same with any insurance company that offers them.
The first plan on the list is called Plan A. This plan contains the basic coverage for a Medigap insurance policy. The other nine plans contain this exact coverage, then build upon it with other benefits that you may be interested in.
Plan F Medigap Insurance in North Carolina
At the other end of the coverage spectrum is Plan F. This policy has the maximum number of benefits. Some of these extra benefits include such things as paying for deductibles, health coverage while traveling outside the country and excess charges under Medicare Part B. Naturally with the most coverage, Plan F can be the most expensive North Carolina Medigap Ins policy. There is, however, a modified version of Plan F that includes a deductible. This is an amount of money that the policy holder pays each year before Plan F will begin to pay for your medical bills.
One way to decide on which plan is best for you is to start with Plan F, then eliminate the coverage that you do not need. What is left will most likely be the best North Carolina Medigap Insurance policy for you.
- 2014-03-04 11:44:35