Facts that Every Retiree Should Know about Medigap Policies

Medicare Supplement Insurance” |  Medigap plan | Medigap Insurance | best medicare supplemental plans | Dallas TX

Beautiful homes, better job opportunities, good food and great music makes Texas an ideal place to live. This is the reason why so many people like to settle down in this lively state. If you live in Texas and have just turned 65, then you must be aware of the fact that you are eligible for Medicare Insurance.

It is important to know that Medicare Insurance does not cover all of your health expenses. This is where Medigap insurance will help you out. Companies like Choice Plus Benefits will provide you with all of the information that you need while opting for Medigap insurance. You may have plenty of questions related to insurance policies. The company’s licensed insurance agents in Texas can answer these questions and help you making this important decision.

What is Medigap Insurance?

Medicare pays only 80% of your approved charges for Part B plan. How are you supposed to cover the rest of 20% of the expenses? This is where Medigap Insurance comes in. Also known as “Medicare Supplement Insurance”, its goal is to help you fill the gaps in your original Medicare plan. However, an important thing that you should remember is that it does not cover your drugs, dental or vision care and other long- term medical care. Medigap plan premiums will differ depending on the type of plan that you choose.

The best part about Medicare Supplement Insurance is that all of the policies are renewable. If you keep paying your insurance premiums, then the insurance company cannot drop you regardless of where you live. However, there is a lot of misinformation floating around the about Medigap insurance plans. Read on to learn some of the common myths about this insurance policy.

Changing the plan:

One of the common myths is that Medicare supplement insurance can only be switched during the Annual Enrollment Period (AEP). The truth is that you can switch plans at any time. The AEP is applicable for people who have opted for the Medicare Advantage Plan or for the Part D Prescription Drug Plan.
Price:
Most people think that the prices of Medigap Insurance plans are all the same. However, the truth is that these prices can vary for the same plan and with different insurance companies. The benefits may be identical, but the price is not. In addition to this, there are 11 different Medigap Plans that have varying degrees of benefits. The licensed insurance agents of Choice Plus Benefits will help you sort through all of the plans to select a suitable one.

Coverage is not as good as compared to what employer group plans offer This is not true. Medicare, along with a Medigap plan, can provide you with excellent health coverage. You often get more comprehensive coverage through a Medigap plan than the one that an employer offers.

Choice Plus Benefits will assist you in finding the appropriate insurance policy and investment solutions according to your specifications. The company ensures that clients receive the highest quality products that are available on the market. Call us at our toll free number for more information.