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Medicare is a federal health insurance program for people over 65 or with disabilities. Medicare pays for much of your health care, but not all of it. Examples of costs that Medicare does not provide payments for could be, prescription drugs, deductibles, coinsurance.

A Medicare Supplement is a health insurance policy sold by private heath insurance companies to fill the "gaps" in Medicare coverage. You do have guaranteed issue rights, even if you have health issues and you should talk with an agent to make sure that you do not miss any opportunity or are subjected to penalties.

You have many choices available for Medicare Supplement plans that each offer different covered benefits and premium amounts. By law, each supplement plan must offer the same benefits as the same plan offered by another insurance company. The only difference between the plans would be service provided by the insurance company and premiums charged.

Things to consider when thinking about purchasing a Medicare Supplement:

Talk with an insurance broker to better understand what Medicare doesn't cover to determine what coverage you need and can afford
No Networks, if the Doctor accepts Medicare patients, they will accept all Supplement plans
Some companies offer better rates for Non - Tobacco usage
Some companies offer discounts if a spouse enrolls also
If you are paying more than $200 per month for employer provided coverage, you maybe able to save money by switching to a Medicare Supplement plan
Consider prescription drug coverage also as it is not covered by Medicare or Supplement plans

Consumer info from the following companies:

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