The insurance coverage provided by Medicare may not be enough for some people. It won’t cover all of your expenses, and if you have quite a few left over each month, then you should be considering supplemental insurance. Specifically, you should look at Medicare Supplement Plans for 2018.
What the Supplement Plans Are
Supplemental Medicare plans attach onto your existing plan. You have to have that base Medicare plan to qualify for them, but once you can qualify for basic Medicare, you automatically qualify for Medicare’s supplement plans.
Now, don’t be fooled by the Medicare part of these plans. They don’t actually come from Medicare directly. Yes, Medicare decides how much coverage each plan has and even decides which plans will be made available from year to year, but everything else is basically up to the private companies that sell the plans.
Unlike Medicare’s base plan, you buy supplement plans through insurance companies, such as Mutual of Omaha, AARP and others. They sell more than just Medicare supplement plans, so make sure you know what you are getting. These plans can be called Medigap plans or supplemental Medicare plans as well.
As the name would suggest, these plans work in additional to the base plan, giving you more coverage on things that Medicare only partially covers or completely covers things Medicare doesn’t cover at all. They can come in very useful if you have lots of extra expenses to pay and are having trouble paying them yourself. The supplement plans aren’t for everyone, but for those that need them, they can make it much easier to afford medical care.