If you are a senior citizen who is residing in the United States, you probably have healthcare coverage through Medicare. Even though you might be thankful for the fact that you have this insurance to help reduce your healthcare-related costs, you might be wondering if there are other coverage options out there for you. Luckily, this is where a Medicare supplement insurance plan from a company like Brown & Brown of Prescott can be beneficial.
Basically, the name says it all — a Medicare supplement insurance plan serves as supplemental insurance alongside Medicare. This means that it helps pick up the slack and pay for things that Medicare might not normally cover. These are a few signs that you might want to sign up for this coverage.
1. You Prefer to Keep Healthcare Costs Predictable
One thing about Medicare is that you might not be able to plan for your healthcare costs very effectively. You might only have to pay out a small premium for Medicare Part B most months, but you may have to pay thousands out-of-pocket for hospital bills during a random month. If you don’t have a lot of money in savings or are just trying to scrape by on a fixed income, having Medicare supplemental insurance can help you keep your costs a bit more predictable. You’ll typically have much more coverage than you would have through original Medicare, and you’ll be able to pay a set amount each month as your insurance premium.
2. You Spend a Lot of Time in the Hospital
Do you typically spend a lot of time in the hospital? If so, you have probably fallen victim to the co-payments and deductibles that are charged my original Medicare, and you may have found that Medicare does not typically pay for your entire stay. Luckily, Medicare supplement insurance can help cover these costly hospital stays.
3. You Spend a Lot of Money on Medication
If you are on multiple medications — or if the medication that you are taking is expensive — a Medicare supplement plan can help you cover the additional costs. This makes it easier for you to pay for necessary medications, which original Medicare typically does not cover.
For a lot of senior citizens, Medicare supplement insurance can be the perfect way to keep healthcare costs reasonable. Luckily, you can typically purchase this coverage for a reasonable price and can enjoy a lot of financial and healthcare-related benefits because of it.