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	<title>New answer on: Why Should I Buy A Medigap Policy?</title>

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		<title>By: Marlin McKelvy</title>

		<link>http://insurancelibrary.com/medicare-insurance/why-should-i-buy-a-medigap-policy</link>

		<dc:creator>Marlin McKelvy</dc:creator>

		<pubDate>Sat, 02 Aug 2014 14:29:46 +0000</pubDate>

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		<description><![CDATA[Quite simply because, as the product&#039;s name implies, there are meaningful gaps in what Medicare Part A &#038; B cover.  This comes as a surprise to many people as they approach the age for becoming eligible for Medicare, many assume they are arriving at the promised land of 100% coverage for their health care needs.  Nothing could be further from the truth.  Medicare was a creation of the early 1960&#039;s when the average life expectancy of an American was shorter and the state of the art in health care was just a couple of steps above a witch doctor in comparison to what we take for granted in 2014.

Going into all the possible areas of financial exposure a person covered only by Medicare Parts A &#038; B is too lengthy to go into here and other respondents have addressed some examples that you can refer to.  Suffice it to say, that unless you have a really big financial next egg you can draw upon in your golden years, a Medicare supplement policy is not a luxury it is almost certainly a necessity as you will eventually have health issues whose costs exceed the coverage limits of Medicare Parts A &#038; B.


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		<title>By: Benjamin Thornton</title>

		<link>http://insurancelibrary.com/medicare-insurance/why-should-i-buy-a-medigap-policy</link>

		<dc:creator>Benjamin Thornton</dc:creator>

		<pubDate>Sat, 02 Aug 2014 13:39:38 +0000</pubDate>

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		<description><![CDATA[A Medicare Supplement or Medigap policy is one very important option for people on Medicare. The main job of a Medigap plan is to act as a stop-loss policy for standard Medicare A and B. For someone with only standard Medicare, there is no maximum out of pocket amount that you can spend on your medical treatment. 

For  instance, if you have a procedure that costs $250,000, you would owe $50,000. With a Medigap policy, that amount would be reduced and max out at a certain point. 

Depending on your health, your finances, and how much of a loss you&#039;re willing to deal with, different Medigap policies (or Medicare Advantage policies) fit best for different people. Talk to a independent broker licensed in your state about your specific situation.]]></description>

		

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		<title>By: Joann Quinn</title>

		<link>http://insurancelibrary.com/medicare-insurance/why-should-i-buy-a-medigap-policy</link>

		<dc:creator>Joann Quinn</dc:creator>

		<pubDate>Sat, 02 Aug 2014 13:35:09 +0000</pubDate>

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		<description><![CDATA[A Medigap Policy (Medicare Supplement insurance) offers great peace of mind when it comes to your health care.

Original Medicare Part A and Part B, generally cover 80% of your Medicare approved &#160;amounts for covered medical costs. &#160;Medigap Plans will help pay that remaining 20% by covering the costs of copays, coinsurance, and deductibles. &#160;

Some people think they don&#039;t need a Medigap Plan because they haven&#039;t had any health issues. While that is great news, we don&#039;t have a crystal ball to predict the future. &#160;A Medigap Plan that is already in place is there to offer that protection when you need it. &#160;If you wait until a significant health issue arises, it may be too late. &#160;Medicare Supplement insurance companies use medical underwriting to issue policies. &#160;If &#160;you&#039;re not &#160;in a Guaranteed Issue or Initial Enrollment situation, you will have to answer health questions. &#160;Medigap policies do not fall under the Affordable Care Act umbrella, so insurance companies can deny you a policy based on your health.

I&#039;ll close with an example of a lady who called me wanting to add a Medigap Plan to her Original Medicare Part A and Part B. &#160;She was diagnosed with breast cancer and had a mastectomy. &#160;As you can imagine, her hospital and doctor bills were substantial and she was looking for some help. &#160;I had to share the unfortunate news with her that because of her recent diagnosis she would not be able to apply for a Medigap policy at this time, but possibly in two years we could re-evaluate her situation. &#160;That&#039;s quite a bit of time for more bills to pile up.

Had she already put a Medigap Plan in place, her savings would be substantial. &#160;Just for example sake, a Medigap Plan F might cost someone $130 a month or $1,560 over twelve months. &#160;Still a lot lower than 20% of a $100,000 operation.

A couple of the most popular Medigap Plans are Plan F and Plan G. &#038;nbspMedigap Plan F will cover all Medicare approved amounts. &#160;You do not have to pay any deductibles, co-insurance, or co-pays. &#160;Plan G acts just like Plan F after you have met the small Part B deductible ($147 in 2014).

If you would like more information about the benefits of Medigap Plans, please feel free to contact me at 1-888-411-1329. &#160;You can also visit my website at www.remedigap.com and check out my client testimonials.]]></description>

		

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