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Medicare Supplement Insurance plans, also known as Medigap policies,
play a crucial role in mitigating the financial burden of medical services
once you are on Medicare. Given that both Medicare Part A and Part B
entail deductibles and other costs without an out-of-pocket maximum,
finding a suitable plan is essential for present and future healthcare
needs.
Medicare Supplement Insurance generally covers services included in
Original Medicare, known as Medicare-allowed or Medicare-covered
charges. It focuses on “medically necessary” services, extending
coverage for these essential healthcare needs.
Enrolling in Medicare Supplement Insurance involves first enrolling in
Medicare Part A and Part B. If you initially sign up for only Medicare
Part A at age 65, you’ll need to contact the Social Security
Administration to enroll in Part B. Once enrolled in both parts, you can
purchase a Medicare Supplement Insurance plan.
During the first six months of Medicare Part B enrollment,
the guaranteed issue right period allows you to acquire a Medigap plan
without concerns about preexisting conditions or acceptance