What does Medicare supplemental insurance cover?

13:28 18.09.2023 - CBS News, Matt Richardson

With so many insurance types on the market, it can be challenging to determine which ones are valuable and which ones are worth skipping. This is especially important for seniors and older adults to get right, as there may not be much flexibility in their budget. And in addition to some traditional insurance policies like home, health and auto, there's likely to be little left over to pay for additional protections. In these instances, it's crucial to understand what other insurance types offer - and what protections they afford.

Medicare supplemental insurance is one such type. This unique insurance can help fill the gap left by private health insurance plans and Medicare parts A and B. But what, exactly, does Medicare supplemental insurance cover for policyholders? By knowing this clearly, seniors can better determine if this insurance type is right for them.

You can easily compare multiple Medicare supplemental plans here to find one that works for you.

What does Medicare supplemental insurance cover?

Medicare supplemental insurance plans don't work like traditional health insurance policies. As such, they won't explicitly cover the same items those plans do. Instead, Medicare supplemental insurance does exactly what its name implies: it supplements your other insurance protections. Specifically, Medicare supplemental insurance can cover:

Medicare deductibles (both parts A and B)
Hospital costs

But Medicare supplemental insurance, also known as Medigap, will only kick in after Medicare has made a contribution to the bills for the above items. So plan your insurance protections accordingly.

"Medigap plans are insurance that help to cover the 'gaps' in Original Medicare," CoverRight, a health insurance platform that works on Medicare plans, explains online. "In other words, Medigap plans help to pay for the out of pocket costs such as deductibles, copays and coinsurance that you are responsible for under Original Medicare. Medigap can only be used with an Original Medicare plan and does not cover prescription drug cost (Part D) or any extra benefits."

But if you continuously find yourself stuck with partial bills left over after Medicare has already been applied, then a supplemental plan could be worth pursuing. Get started by reviewing your Medicare supplemental insurance options here now.

Is Medicare supplemental insurance worth it?

Knowing what Medicare supplemental insurance covers is critical, but is worth it for you? Here are three signs it may be:

Medicare may not be enough: Everyone's personal financial circumstances are different. In some cases, Medicare may be sufficient. But if you continually open your mailbox to discover leftover bills after Medicare was applied, a supplemental policy may be valuable for you.
Your budget is limited: If you have plentiful savings and reliable income still coming in, then you may be able to rely on that to pay the remaining Medicare balances. But if you don't and your budget is limited (especially now during inflation), a supplemental plan could be smart to pursue.
Peace of mind: Your retirement years should be best experienced with as little stress as possible. While that's not always possible, you can do your due diligence to avoid unexpected and expensive bills. A Medicare supplemental plan can help.

Learn more here today.

The bottom line

Medicare supplemental insurance can supplement your other insurance protections, paying for the balance left from deductibles, co-pays and more. But you will need a Medicare plan first before getting started with a supplemental as a backup. But don't just consider it as a supplement, as this unique form of insurance can help boost your budget and provide some extra peace of mind so you can focus less on your finances and more on the things that are important to you.

/ Monday, September 18, 2023, 1:28 PM /

What does long-term care insurance cover?

There are multiple insurance policies that Americans are familiar with. Because they're often legally mandated, or simply because they've had a prior experience submitting a claim, many adults understand the workings of various insurance types. This includes home insurance, which protects against damage to your house, but it also include auto insurance, which protects your vehicle and its passengers, and life insurance, which can offer some financial security for your loved ones following your death.

There are other insurance types, however, that aren't as well known but that can still prove to be valuable, particularly for older adults who may have a tighter budget. Medicare supplemental insurance, which can cover the gap in coverage left by Medicare, is one such type. Long-term care insurance is another. This unique insurance type can cover a wide array of needs for seniors and older adults. Accordingly, it's important to know exactly what's covered (and what isn't) in order to build the best policy for your needs.

Learn more about your long-term care insurance options by getting a free price quote here.

What does long-term care insurance cover?

So what can users expect covered with a long-term care insurance plan? Specifically, long-term care insurance policies can cover the following:

Nursing homes
Specialty care facilities (for Alzheimer's patients, for example)
Assisted living facilities
Hospice care
Adult day service centers

But this insurance type isn't just limited to services and facilities outside your home. It can also provide coverage for inside it, too. Long-term care insurance typically covers:

Therapists (physical therapy, occupational therapy, speech and rehab)
Caretakers (which covers personal care ranging from dressing to bathing)

"Long-term care insurance policies reimburse policyholders a daily amount (up to a pre-selected limit) for services to assist them with activities of daily living such as bathing, dressing, or eating," reads an entry on "You can select a range of care options and benefits that allow you to get the services you need, where you need them."

Not sure if a long-term care plan can cover what you need? Answer a few easy questions to find the best long-term care insurance plan for you here now.

Why seniors need long-term care insurance

There are multiple compelling reasons why seniors should consider long-term care insurance. Here are two major ones:

Your current protections may come up short

Your health insurance and Medicare protections may typically be sufficient. But if you need a nurse to help you at home, a therapist to help with your physical therapy, or even a caretaker, to help you complete some daily chores, those two insurance types often won't be able to cover you. In these instances (and more), long-term care insurance is worth securing.

Explore your long-term care insurance options here to learn more.

You want to protect your savings

If you've worked hard to build up a nest egg to leave to your beneficiaries then you'll want to protect it. If you don't have long-term care insurance and need to pay for the care listed above, then you may have to access your savings to make ends meet. But with a plan, you'll be covered, protecting your money now and well into the future.

The bottom line

Long-term care insurance isn't for everyone. But it can provide specialized coverage for those who need it, ranging from care inside your home to assisted living facilities and nursing homes outside of it. This type of insurance may ultimately be necessary for those who need coverage that's not otherwise provided via regular insurance plans or Medicare. And, by getting a long-term care insurance plan now, users can better protect their savings from being used as an alternative funding source. Learn more about your long-term care insurance options today!

How much does Medicare supplemental insurance cost?

When it comes to planning for healthcare costs in retirement, Medicare is a critical component of your financial security. However, Medicare alone may not cover all your medical expenses, which is where Medicare supplemental insurance, also known as Medigap, comes into play. Understanding the costs associated with Medigap policies is crucial for ensuring you have the coverage you need without breaking the bank.

Medigap policies are offered by private insurance companies, and each company has its own way of pricing these policies. The way they determine the premium can significantly impact how much you pay both now and in the future. Below, we'll break down what you should know about the cost of Medicare supplemental insurance.


How much does Medicare supplemental insurance cost?

Numerous factors impact the price of a Medicare supplemental policy, so it's difficult to determine exactly what you may pay for your policy. instead, the cost is specific to the individual, the company and policy. "Each insurance company decides how it will set the price, or premium, for its Medigap policies," according to

There are a wide range of Medigap policies, which are designated by letters from A to N. Each type of plan offers a distinct set of benefits, which means that the average costs differ. For example, the average Medicare Part B premium is $164.90 per month for 2023, while the average cost of a Medicare supplemental plan with wider coverage, like Plan G, is typically much higher.

Learn more about enhancing your Medicare coverage here.

Factors that impact the price of your Medigap policy

In general, these are the key factors that will help determine the price of your Medicare supplemental policy:


Medigap premiums can vary depending on your geographical location. Different insurance companies may charge different rates for the same plan in different areas, even within the same state.


In most states, insurers use age-based pricing, meaning that your Medigap premium will increase as you get older. Premiums generally start lower for younger beneficiaries and rise with age.

Plan type

The specific Medigap plan you choose has a significant impact on your premium. Plans offering more comprehensive coverage typically come with higher monthly premiums. For instance, Plan F and Plan G generally have higher premiums compared to Plan A or Plan N.

Tobacco use

Some insurance companies may charge higher premiums to individuals who use tobacco products.

Underwriting method

The method an insurance company employs to calculate premiums can also affect costs. There are three primary underwriting methods: community-rated, issue-age-rated, and attained-age-rated:


With this type of policy, the same monthly premium is charged to everyone who has the Medigap policy, regardless of their age. Your premium remains constant and isn't influenced by your age. While premiums may increase due to inflation and other factors, they won't go up just because you're getting older.


The premium for this type of policy is determined based on your age when you initially purchase the Medigap policy. Premiums are lower for those who buy the policy at a younger age and remain consistent as you age. However, they may still increase over time due to inflation and other factors, but not because of your age.


This pricing method calculates the premium based on your current age, which means your premium will rise as you get older. Premiums are lower for younger buyers but increase as you age. Over time, this type of policy can become the most expensive. Additionally, premiums may also increase due to inflation and other factors.

Company pricing

Each insurance company sets its own premium rates. So, it's crucial to compare quotes from different insurers to find the most cost-effective premium for your preferred coverage.


The cost of Medigap plans hinges on various factors, including location, age, plan type and the insurance company you choose. To make an informed decision, it is vital to research and compare Medigap plans and premiums to align with your healthcare needs and budget. And, always bear in mind that healthcare costs and insurance premiums can evolve over time, so it's important to remain aware of the latest information and options available to you.

Is Medicare supplemental insurance worth it?

With so many insurance policies currently available and the varying prices accompanying each, it can be challenging to determine which plans are cost-effective and valuable - and which just appear to be. Many people already have insurance policies covering life, health, car and even their pets. But what about seniors, who may need some added extra protection in their golden years?

For this demographic, there are two primary insurance types worth investigating: Long-term care insurance, which can help cover the costs for extra care, and Medicare supplemental insurance, which can help cover the gap left by other insurance types. Both have long-term benefits for seniors, but is Medicare supplemental insurance worth it for you? Or are you better served without it?

Find out by viewing some of the top plans available to you here now.

Is Medicare supplemental insurance worth it?

As is the norm when it comes to financial products and services, the benefits of Medicare supplemental insurance are specific to the individual in question. It may be worth it for you, however, if you fall into one or more of the following categories:

You continue to receive bills

Health insurance and Medicare Parts A and B can cover many items, but if you continually find yourself with leftover bills after both have already been applied, then you simply may not have enough coverage. Medicare supplemental insurance can help fill that gap.

For example, if you still find yourself having to pay for deductibles, copays and more - even after you apply your other insurance types - then a supplemental plan could be worth it for you and your loved ones.

Get your free insurance quote here now. It will take less than five minutes.

Your bill costs are higher than a plan would be

Branching off the above item, it helps to crunch the numbers. So take a look at the bills you've received over the last six to twelve months after all of your relative insurance policies have been applied. Then compare that total figure to what it would have potentially cost you to have a supplemental plan during that same time period.

If the former figure is higher than the second one, then a supplemental plan may be worth it for you. Just make sure to take into account any anomalies (like surgical procedures or hospital stays) that may skew those numbers in one direction or another.

You're struggling to make ends meet

While some retirees may have substantial nest eggs to tap into, others may not. This latter group may be tightly budgeted, heavily reliant upon Social Security and have minimal retirement savings. And against the backdrop of seemingly never-ending inflation and higher interest rates that have made borrowing more expensive, many seniors may be struggling now.

While it may seem counterintuitive, then, to add another bill to the mix, it could be worth it if it ultimately leads to a reduction in costs and more money in your pocket.

Do the research and see if a Medicare supplemental plan works for you here now.


It's always smart to be judicious about what you spend your money on - and how much of your money you spend. This is especially true for many seniors. Fortunately, Medicare supplemental insurance may be worth the extra cost. It can be worth it if you have leftover bills unpaid by your health insurance and Medicare plans. Just crunch the numbers to confirm. And with inflation and economic concerns at the forefront currently, it could be a valuable way to protect yourself from additional financial burdens.

When should you buy Medicare supplemental insurance?

Navigating the complexities of healthcare in retirement can be a daunting task. And, while Medicare provides essential coverage for many seniors, it may not cover all your healthcare expenses, like your copays, coinsurance and deductibles. Those costs can add up quickly and become a big issue - especially if you're on a limited budget.

That's where Medicare supplemental insurance, often referred to as Medigap, comes into play. Medicare supplemental insurance is a type of private health insurance that's designed to work alongside Medicare. Medigap policies help fill in the coverage gaps by covering some or all of the extra healthcare expenses, depending on the plan.

But when is the right time to purchase a Medicare supplemental insurance policy? That's what we'll explore below.

Compare your Medicare supplemental insurance plan options here to find the right one for you.

When should you buy Medicare supplemental insurance?

For most people, it typically makes sense to purchase a policy at these times:

During your initial enrollment period

The best time to purchase a Medigap policy is typically during your initial enrollment period (IEP), according to Under federal law, your IEP begins when you're 65 and enrolled in Medicare Part B.

The main benefit of enrolling during your IEP is that during this six-month period, insurers cannot deny you coverage or charge higher premiums based on your health status or pre-existing conditions. That can keep the costs down on your Medicare supplemental insurance policy and ensure that you're not limited in terms of your policy options.

If you wait, though, it could cost you, as the premiums on this type of coverage will typically increase as you get older.

Find the right Medicare supplemental insurance plans for you here.

When you have a guaranteed issue right

Outside of your IEP, you can still purchase a Medicare supplemental insurance policy if you have a guaranteed issue right. Guaranteed issue rights are federal protections that prevent insurance companies from denying you a Medigap policy or charging you higher premiums based on your health status or pre-existing conditions.

These rights are granted during specific circumstances, allowing you to enroll in a Medigap plan without undergoing medical underwriting. Several situations can trigger guaranteed issue rights, including:

Medigap plan discontinuation: If your Medigap insurance company goes bankrupt, stops offering coverage in your area or otherwise discontinues your specific plan, you have a guaranteed issue right to choose a new Medigap policy.
Losing other coverage: If you had other health coverage and you lose that coverage through no fault of your own (e.g., due to retirement or employer discontinuation), you have guaranteed issue rights to purchase a Medigap policy within a specific timeframe.
Medicare Advantage plan changes: If you were enrolled in a Medicare Advantage plan when you first became eligible for Medicare and you switched to Original Medicare within the first year, you may have guaranteed issue rights for Medigap coverage.
Moving out of your plan's service area: If you had a Medigap policy and you move out of your plan's service area, you may have guaranteed issue rights to buy a new Medigap policy in your new location.
During the annual enrollment period

You also have the option to purchase a Medigap plan during Medicare open enrollment, also known as the annual enrollment period (AEP). This period occurs from October 15 to December 7 each year.

During this period, eligible individuals can make changes to their Medicare coverage, and if you're considering a Medigap policy, you can apply for one during this period. However, it's important to note that Medigap policies may have different open enrollment periods depending on your state.

During your state's open enrollment period

In addition to the federal open enrollment period, some states offer additional open enrollment periods (OEPs) for Medigap policies. These state-specific OEPs may allow you to purchase a policy at various times throughout the year, providing flexibility outside the federal IEP.

The rules and protections offered during state OEPs can vary, though, so it's essential to check with your state's insurance department or a qualified insurance agent to understand the specific regulations in your area.


Deciding when to buy a Medicare supplemental insurance policy depends on various factors. It makes the most sense to enroll during your initial federal enrollment period or any state open enrollment period you qualify for, as these periods can protect you from being denied coverage or being charged more due to health reasons. However, it's also possible to enroll if you have guaranteed issue rights to do so. But no matter when you decide to purchase a policy, it's typically worth considering, as Medicare supplemental insurance can provide peace of mind and financial security as you embark on your retirement journey.

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