Texas Medicare Supplement: Your Partner In Your Health
 | About UsIn my dire attempt to provide knowledge about the different Medigap plans to people who may need it, thus, I created this site. Continue visiting us often to get the latest updates about it. |
The Basics of Supplemental Insurance
Texas Medicare Supplement Plans are a popular way to supplement Medicare medical health-care coverage. While Medicare offers many benefits, it in no way covers the entire cost of health care. Since may Medicare recipients are retirees living on fixed incomes, getting the most coverage for the least money is a necessity. To that end, many are purchasing plans to supplement their Medicare benefits.
Medicare supplements is a big and growing market, offering many options to buyers. Because there are so many different plans, it is important to shop wisely when buying supplemental insurance.
To begin with, it is important to know the right time to buy. There is a one-time-only enrollment period for supplemental insurance and it lasts six months. This enrollment period does not begin when you turn 65; it begins when you sign up for Medicare Part B. You will need to be enrolled in Medicare Parts A and B to purchase a supplemental policy. You can exercise your option to purchase as many times as you want during your enrollment period. You can buy a policy, change your mind, and exchange it – so long as the enrollment period has not expired. But once the period is over, you can only purchase a supplemental policy if you can prove that you have lost your coverage. Remember, too, that even though an insurance company is required to sell you a policy if you want one, certain parts of the policy may be delayed if you have a pre-existing condition.
All Medicare Supplement Policies have a 30-day “free-look” period, during which time you can examine the policy, and if you are not satisfied you can return it for a full refund. The “free-look” period does not apply to Medicare Advantage policies. Once you have your policy, it is guaranteed renewable and cannot be cancelled by the insurer except for non-payment of premiums or false or misleading information on the application.
Remember that you are purchasing insurance for your old age. There are many policies and many insurance companies willing to sell them to you. Shop around, see what’s available and get the policy that’s right for you. Don’t buy coverage you don’t need.
