There are a large number of older Americans who believe when they turn sixty-five Medicare will cover the cost of their health care. Many are startled to discover this federal program only pays a portion of the costs and may not pay anything at all in other circumstances. A Fort Lauderdale FL insurance broker can help explain how Medicare works and why supplemental protection is important.
Medicare Supplemental Insurance, also called Medigap, is designed to fill these gaps. It is guaranteed renewable for life as long as you pay the premiums, so you do not have to worry about being dropped due to worsening health. A FL insurance broker can help you find the right Medigap provider for your personal needs. For example, not all policies cover travel, and if you never leave the US you might not need that particular coverage.
They do not cover long term care - for that you should get a separate long term care insurance (that your broker can also help you with), vision or dental care, but they do help you keep your overall health costs low and predictable. Medigap does not cover prescription drugs - for that you need Medicare Part D. You can, though, buy this insurance from any company licensed to sell them in your state. Again, a good broker will help make sure you pick a company that is legally entitled and licensed to sell you the policy.
You need to enroll in Medigap within six months of your sixty-fourth birthday, or you may not be given coverage or may have to pay higher premiums. Because of this, you should start talking to a broker before you become eligible for Medicare. You do not want to be rushed into picking a policy.
As you head toward retirement, there are many choices you will have to make.
Having a secure and complete health program in place will take a lot of worry out of retirement.
Medicare Supplemental Insurance, also called Medigap, is designed to fill these gaps. It is guaranteed renewable for life as long as you pay the premiums, so you do not have to worry about being dropped due to worsening health. A FL insurance broker can help you find the right Medigap provider for your personal needs. For example, not all policies cover travel, and if you never leave the US you might not need that particular coverage.
They do not cover long term care - for that you should get a separate long term care insurance (that your broker can also help you with), vision or dental care, but they do help you keep your overall health costs low and predictable. Medigap does not cover prescription drugs - for that you need Medicare Part D. You can, though, buy this insurance from any company licensed to sell them in your state. Again, a good broker will help make sure you pick a company that is legally entitled and licensed to sell you the policy.
You need to enroll in Medigap within six months of your sixty-fourth birthday, or you may not be given coverage or may have to pay higher premiums. Because of this, you should start talking to a broker before you become eligible for Medicare. You do not want to be rushed into picking a policy.
As you head toward retirement, there are many choices you will have to make.
Having a secure and complete health program in place will take a lot of worry out of retirement.
About the Author:
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