Learn This Guide to Senior Health Benefits – Options and Costs
Supplemental Health Insurance for Seniors Called ‘Medigap’
While Medicare covers most health-care needs, there are several glaring gaps that aren’t covered unless you enroll for Medicare Supplement Insurance, sometimes known as “Medigap.” Medicare does not cover deductibles, copayments, or coinsurance, so Medigap policies help pay for these.
Medigap policies are sold by private insurance companies and are used after Medicare has paid its portion of the approved amount for covered Medigap policies differ from the Medicare Advantage Plan, which provides benefits. Medigap insurance products supplement the benefits provided by your basic Medicare plan.
Medigap policies do not cover long-term care, dental or vision care, eyeglasses, hearing aids, or private duty nursing. Plans acquired after 2006 are not permitted to include prescription medication coverage.
Other things to remember about Medigap:
• Medigap plans are only accessible to Medicare Part A (hospital services) and Part B recipients (cost for doctor services).
• You should enroll in Medigap insurance within six months of turning 65.
If you don’t, insurers may deny you coverage due to a pre-existing condition or charge you a higher premium.
• Standard Medigap plans are automatically renewed.
• Medigap insurance only covers one person. If you and your spouse want Medigap insurance, you must purchase separate policies.
• Medigap coverage is paid directly to an insurance company in addition to the Medicare Part B coverage you purchased.
Senior Veterans, Military Retirees, and Their Spouses Have Health-Care Options
Veterans Administration health benefits may be available to an honorably discharged senior veteran of any branch of the armed forces (VA). The VA’s healthcare system serves all veterans, regardless of age, who have served at least two years of continuous active duty, have a service-related disability, or have served in multiple.
Furthermore, through the CHAMPVA program, qualifying beneficiaries, such as elderly wives or widows of some disabled or deceased veterans, may obtain government-sponsored.
