Are you approaching the year when you’re thinking about retiring, but are unsure that you’ve prepared to deal with the high cost of health care coverage on a fixed or low income? Many people think that Medicare will cover all their health care needs, and then when they retire, they learn that the original Medicare plan often leaves gaps, meaning that some patients won’t be covered for important services. Before you make a final decision about which health care options are right for you as a senior citizen, it’s important to make sure you’ve explored all the options, including Medigap insurance plans Texas.
In case you’re not yet that familiar with the way traditional Medicare coverage works, it’s important for you to know that there are two main types of plans, Medicare Part A and Part B. Medicare Part A is basically coverage for any hospitalization costs that you may incur during an illness or other medical procedure. Depending on whether or not you meet specific health and income criteria, your Part A coverage will be applicable toward inpatient care in hospitals, critical access hospitals, skilled nursing facilities, hospice care services and some independent living health care in your home. Although this might seem comprehensive, many find that the coverage is limited, increasing their need for affordable Texas Medicare supplements.
The second part of the original Medicare plan is the coverage which falls under Part B, your medical insurance. Part B of the Medicare plan covers doctors' services, outpatient hospital care, and, in some cases, the services of physical and occupational therapists. It’s important to note that Part B will only provide financial assistance for these services and supplies when a doctor deems that they are medically necessary. If you utilize this coverage, it’s likely that you’ll have to pay the Part B premium.
Because many people are likely to find areas of health care need that aren’t covered by the original Medicare plan, the government has authorized several different insurance companies to offer supplemental insurance to fill in the gaps. Known as Medigap coverage, this supplemental insurance has been standardizes across the companies, so that the coverage is almost identical no matter which provider you choose. Although the coverage is standardized, the prices are not regulated, so the main thing that you’ll want to compare is price. Make sure you ask for Medigap insurance quotes Texas from at least three companies before you make your decision.