Why Seniors Overwhelmingly Love their Medicare Supplement Insurance

80% of seniors report being satisfied with their Medicare Supplement coverage.  According to AHIP Executive VP of Policy and Strategy says that is because “it allows seniors to get the care they need from the doctors they prefer at an out-of-pocket cost they can afford.”

So, what is a Medicare Supplement?

A Medicare supplement complements original Medicare by protecting enrollees from additional health care costs and allowing them to choose their doctors and specialists. It picks up costs that are left behind by Original Medicare, such as deductibles and high coinsurances.

Medicare supplements are offered by private insurance companies, such as United HealthCare, or Humana, and most often bought through local insurance brokers.

Is there anything a Medicare supplement doesn’t cover?

Medicare Supplements only pick up the costs that are left behind after Original Medicare approves a procedure. If Original Medicare doesn’t cover the procedure, then the supplement wont pay. The biggest gap, being prescription drugs. Prescriptions are usually covered by a separate Part D plan, for an extra cost.

According to David Walls, owner of D&D Insurance LLC. An insurance agency that specializes in the Medicare Market in Ocala Florida, “the average Part D plan in Florida costs between $20-$50 a month”. But he emphasizes not to judge a plan based on the monthly premium alone. What prescriptions are covered, and their copays when the prescription is filled can be the biggest variable.

Summary

Medicare Supplements still have some of the highest satisfaction rates of any kind of insurance. With their guaranteed renewable coverage, and affordable cost, seniors can have peace of mind about their financial security and physical well-being in their retirement years.