If you are or are about to become one of the millions of Medicare recipients in the United States, it’s important that you handle your insurance situation properly. Medicare Parts A and B don’t cover many common health expenses, so supplemental insurance is often necessary. However, there are limits on when you can purchase it without restrictions. Here are two important things you should know about Medicare supplemental insurance in VA:
- Deductibles, Coinsurance and Copayments – First, you should assess your need for supplemental insurance. Even if Medicare covers a particular service or expense, usually you will still have to pay a deductible, coinsurance and copayment. These can add up quickly, especially as you age. Supplemental insurance can help cover these costs.
- 6-month Window – The best time to buy Medicare supplemental insurance is during the six months immediately following the month you are both 65 years old and enrolled in Medicare Part B. During this timeframe, you can purchase any supplemental policy in your state, regardless of health problems. If you try to get it after this window, however, you may be denied for health reasons. If you are able to purchase a policy, your premiums may be higher.
Don’t wait until it’s too late to act. Talk to a qualified insurance professional today about your options for Medicare supplemental insurance in VA.