Medicare Supplemental Insurance
Legacy Partners Insurance and Financial Services is the leading provider of Medicare supplemental insurance in Pasadena, Van Nuys, Sherman Oaks, and other nearby communities. This type of coverage is becoming increasingly important, because the population is aging rapidly.
According to the Social Security Administration, about 10,000 people are applying for government retirement benefits each and every day. Medicare is one of these benefits, and anyone who is going to receive Medicare coverage should consider Medicare supplemental insurance.
Why do you need additional insurance if you qualify for coverage under the program?
This is a good question, and the answer is not very encouraging. Medicare is broken up into four different sections. The first section, Part A, covers inpatient hospitalization. Most people that qualify for Medicare do not have to pay monthly premiums for this coverage.
That’s the good news, but here’s the bad news: There are out-of-pocket expenses, and they can be considerable. There is a deductible for each benefit period that is over $1300, and there can be very large copayments for hospital stays that exceed 60 days. Medicare supplemental insurance can fill this gap.
Medicare Part B is the portion of the program that pays for outpatient treatment and visits to doctors. There is a monthly premium of more than $100, and there is a modest deductible. However, the program only pays for 80 percent of Medicare approved physician services. The patient must pay the other 20 percent.
Medicare Part C allows you to get into a Medicaid Advantage plan that is offered by private insurers, and we would be more than glad to discuss this option with you. Part D is the prescription drug component. There are typically copayments, deductibles, and premiums that must be paid for Medicare Part D coverage.
We Can Fill the Gaps!
As you can see, there are some considerable gaps in Medicare coverage, and this is why Medicare supplemental insurance is so important. Of course there are premiums to pay, but in the long run, you spend a little to save a lot.
In addition to the cities we touched upon in the opening, we also serve people in North Hollywood, Glendale, and Northridge, and we go the extra mile to provide top-notch customer service. If you would like to learn more about Medicare supplemental insurance, call Legacy Partners Insurance and Financial Services at 855-966-6884.