Supplemental Insurance for Medicare Disability
If you are under age 65 and are eligible for Medicare due to a disability or disease, you may be eligible for supplemental insurance. For Medicare disability recipients, Federal law does not require that supplemental insurance companies offer you Medigap policies. But if you live in one of the 27 states that do mandate that insurance carriers offer supplemental insurance for Medicare disability, you should consider purchasing a policy of this type.
Even in states that do not require carriers to offer supplemental insurance for Medicare disability, many companies will voluntarily offer them. One big difference between supplemental insurance for Medicare disability and supplemental for seniors is that you get guaranteed enrollment at age 65. This means that insurance carriers have to let any new age 65 Medicare recipient purchase whatever policy they want and can’t charge a higher rate because of any medical condition. But with supplemental insurance for Medicare disability policies, insurance companies are allowed to consider your medical condition and charge you higher rates based on approximation of risk.
If you are Medicare eligible due to a disease or disability, there’s a great likelihood that you will be using a lot of Medicare services, requiring you to pay 20% of most costs out-of-pocket. But with supplemental insurance for Medicare disability, a lot of these out-of-pocket costs are paid for you in exchange for a monthly premium. In most cases rates for supplemental insurance for Medicare disability recipients will be higher than what seniors are charged.
But you should not assume that the premiums for supplemental insurance for Medicare disability are not worth it. What you need to do is crunch some numbers. If the 20% of doctor visits you would use each month is near or more than the premium cost for supplemental insurance for Medicare disability – then the cost of the policy is definitely worth it!
COMPARE MEDICARE SUPPLEMENTRATES
Seniors that are currently covered under Medicare coverage are left with various out of pocket health care costs and Gaps in the Medicare program. Compare Medicare supplement Plans and get Medicare Supplement Quotes from all leading Medicare Supplemental Insurance Companies. Apply Online or Call us 1(888) 649-2016