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Medicare Supplement Insurance Product Line

What it does?

Medicare supplement insurance policies may help pay some of the expenses not covered by Medicare like:

• Part A deductible and co-payments
• Skilled nursing facility care
• Extended hospital care
• Physician's services, hospital outpatient services and supplies
• Ambulance services
• Physical and speech therapy
• Emergency Health care received outside the United States

How do I shop for a Medicare Supplement Insurance Policy?
Determine how much coverage you need.There are a number of factors to consider before deciding on the right plan for you, including the cost of the various plans and your present and future health care needs. It is best to compare the benefits of each plan. Here are a few questions to ask yourself:

• Can you afford to pay the Medicare hospital deductible of $952 each time you are hospitalized?
• Are you willing to pay extra premiums for coverage such as prescription drugs, preventive care, or foreign travel emergency care?
• In-home care coverage a priority for you?
• Are you willing to assume the cost of paying excess charges should you ever see a doctor who does not accept Medicare assignment

Research the companies offering the plan you want.
Most Medicare supplement plans follow the standard plan designs created by the Federal government, so the only difference in the coverage is the company behind it. There are several factors you should consider about an insurance company before you purchase a product.

• Premiums can vary tremendously from company to company. Don't just look at current pricing. See how the rates are calculated, whether they are based on your age at policy issue (issue age) or whether they will increase each year with your age change (attained age).
• How the policy is serviced should be a big consideration when choosing a company. Is it serviced by a personal agent or by a Home Office 800 number? Does the company offer an automatic claims filing service so you don't have to worry about missed claims? Does the company offer any other services, such as a prescription drug discount card?
• A company's industry ratings from companies like A.M. Best and Standard & Poor's can be a big indication of its financial stability and reliability.
  
  Source: 2004 Guide to Health Insurance for People with Medicare.