Medicare supplement insurance is sold by private companies to help pay for health care cost that Medicare by itself does not cover. Some of the costs that Medicare supplement insurance may cover include copayments, coinsurance and deductibles. Medicare supplement insurance, also known as Medigap, does not mean you are cancelling or replacing you Medicare Parts A and B membership, you still have all of your Medicare rights and protections.
The best time to buy a Medicare supplement insurance policy is during your open enrollment period. The open enrollment period begins when you turn 65 years old and are enrolled in Medicare Part B and last for six months. In some instances, if you are under 65 years old, but are enrolled in Medicare Part B, you may still be eligible for the open enrollment period.
Medicare supplement insurance can help save money on many of your health expenses and relieve the burden of worry from you. Contact your insurance agent today for more information on Medicare supplement insurance.