Medigap Insurance in Retirement
When people consider retirement, health care planning becomes a higher priority and comes with certain areas of confusion. One of these is Medicare, a valuable source of health insurance for people 65 and older.
Making the change in policy coverage, and insurance companies, can be difficult. After years of having health coverage through an employer provided policy, making the transition from private health insurances to Medicare is complex and involves some important decisions. Choosing from the various options can be overwhelming.
What is Medigap? Contrary to popular belief, Medicare does not cover everything. It is basic coverage. A Medigap policy is private health insurance that you purchase to pay for those health care costs not covered by Medicare, such as co-payments, co-insurance, and deductibles. You must be enrolled in Medicare Part A and B before you can purchase a Medigap policy. A Medigap policy covers only one person.
Any standardized Medigap policy is guaranteed renewable and non-cancellable – even if you have health problems – as long as you pay the premium.
What does the policy not cover? Medicare and Medigap policies typically do not cover long term care, vision or dental care, hearing aids, eyeglasses, or private duty nursing.
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John D. Miller is the founder/owner of Home Care Partners, LLC, a Massachusetts business providing private duty, personalized in-home assistance and companion care services to those needing help in daily activities and household functions.
Phone: (781) 378-2164
Email: [email protected]
Website: https://homecarepartnersma.com