Determining Eligibility For Medicare Supplement Insurance Plans

Medicare supplement insurance plans can be very helpful to a lot of people. These plans help to cover some or even all of the healthcare costs not covered by standard Medicare. Depending on the exact plan, you may be able to get co-payments, deductibles, and other fees covered. Some plans also provide coverage during international travel. Often referred to as "gap coverage" because they fill in the gaps that standard Medicare doesn't.. However, not everyone qualifies for Medicare supplement insurance plans, so you'll want to determine your eligibility before you get too excited about all that they can do.

You Have to Actually Need the Coverage

In some cases, even if you are not aware of it, you may already have a form of gap coverage. If you already have another plan that provides gap coverage then you will not qualify for Medicare supplement insurance plans simply because you aren't in need of them.

A few of the programs and plans that eliminate the need for a Medicare supplement insurance plan include:

• Medicare Advantage
• TRICARE
• Gap coverage from your employer
• Veteran's benefits
• Gap coverage from a union to which you belong

If you are unsure about whether or not you have gap coverage and/or the extent of that coverage, don't hesitate to ask your provider. In some cases, depending on the plan and the coverage levels, it may be more beneficial to drop your current plan in favor of Medicare supplement insurance.

You Have to Have Both Types of Medicare

In order to qualify for Medicare supplement insurance, you must have both Medicare Part A and Part B. If you only have one part, you will not be eligible for gap insurance.

However, just because you do not currently have both types of coverage does not mean that you are not eligible for both types. Talk with your insurance provider or check the eligibility requirements for the type of Medicare you don't have. If you qualify for and sign up for both, then you will be eligible for supplement insurance.

You Must Be Able to Pay the Premium

Few good things in life come for free, and supplement insurance is certainly a good thing. As such, you will be expected to pay a premium for your supplement insurance. This premium will be in addition to any Part B premium that you already pay.

A lot of factors, including income, go into determining your premium amount, however, so, more often than not, it's doable for the average person.

If, based on this information, you think you may qualify for supplement insurance, talk with your provider today about adding on this all important coverage. If you want to know more, try contacting a company like Brown & Brown of Prescott with your questions for help.