What You Need to Know About Medicare Supplements

What You Need to Know About Medicare Supplements

by Leslie Freeland, June 9, 2015

Understanding Your Options:

What are Medicare Supplements?

Have you ever thought in regards to Medicare Supplements:

  • “I’m turning 65, so what do I really need to know about Medicare Supplements?”
  • “Medicare Supplements are confusing! Help!”
  • “What about prescriptions? Are those covered?”

If this is you, keep reading.

A simple explanation

Medicare Supplement Insurance (also known as Medigap) plans are private insurance plans sold by private insurance companies to people with Medicare. These plans are designed to pick up the high deductibles and cost shares of original Medicare, such as “copayments, coinsurance, and deductibles.” (medicare.gov)

According to Medicare.gov:

“If you have Original Medicare and you buy a Medigap policy, Medicare will pay its share of the Medicare-approved amount for covered health care costs. Then your Medigap policy pays its share.”

Medicare Supplements do not replace or cancel your Medicare coverage. You still have all the benefits of your Medicare plan.

Benefits to Medicare Supplements

  • There are some plans that offer coverage when you travel outside of the US.
  • As long as you keep paying your monthly premium, your Medicare Supplement Insurance plan will not be cancelled and can be continually renewed even if you develop health issues. So never stop paying your monthly payments without checking with your Medicare Supplements agent first.

Special things to keep in mindmedicare supplements Asurea-dispenser

Keep these in mind as you consider getting Medicare Supplements:

  • As of today, Medicare Supplement Insurance plans don’t cover prescriptions. Call Asurea today to learn more about your prescription coverage options.
  • You must have a prescription drug plan through Medicare or you may have to pay a monthly penalty.
  • The costs for Medicare Supplements are in addition to your Part B premium. Call Asurea for an explanation.
  • If you and your spouse are eligible, you may want to enroll together to enjoy multi-household discounts.

Doesn’t cover everything

While Medicare Supplements cover a lot, keep in mind they don’t cover everything:

  • “Policies generally don’t cover long-term care, vision or dental care, hearing aids, eyeglasses, or private-duty nursing,” according to Medicare.gov.

Warning – danger ahead!

When you turn 65, you have a period of time where you can apply for Medicare Supplements without medical underwriting (where you answer questions about your health history)! This is called a “guaranteed issue” period.

During this time, you are guaranteed to get any insurance plan available in your area without medical underwriting. It is imperative that you apply for Medicare Supplements during this time.


Adjusting your current plan

There are several reasons you may want to change or adjust your current plan, but it’s very important that you do not make any changes to your current plan until you contact your agent. Don’t stop paying your monthly payments without checking with your Medicare Supplements agent first, or your fees may be much higher when you get a new Medicare Supplement policy.

We are your Simple Solution to understanding Medicare Supplements

Understanding how Medicare Supplements work is more complicated than you may think. There is much more information to understand than what has been covered here. Asurea is here to be your Simple Solution to help make sense of it all. Contact Asurea today to get a simple explanation of what they are and why you need them. We will give you the information you need so that you can make the best choice for yourself.


More Simple Solutions For You


Asurea offers Life Insurance, Mortgage Protection Life Insurance, Medicare Supplement Insurance, Final Expense Insurance, Disability Insurance, Long-term Care Insurance, Retirement Planning products and more. For additional information, click on the ‘Learn More’ button below. Want to have articles just like this delivered to your inbox? Just enter your email address in the box below and click ‘Subscribe.’

This information is provided for general consumer educational purposes and is not intended to provide medical, legal, tax or investment advice. Dollar amounts are for illustrative purposes, not actual. Not connected with or endorsed by the U.S. Government or the federal Medicare program.

Leslie Freeland

Leslie Freeland

Find her at LinkedIn
Leslie joined Asurea as the Marketing Communications Coordinator in February 2015. Since then, she has been working closely with insurance professionals to educate the public on the importance of life insurance and protect the public from common scams with informational articles.
Leslie Freeland