Who Needs Medicare Supplemental Insurance

Who Needs Medicare Supplemental Insurance

One of the most common questions you will have to answer from your clients will be, “why do I need supplemental insurance?” This is a good question, and will allow you to explain exactly why supplemental insurance and/or Medicare Advantage plans make financial sense for many seniors.   Seniors have the option of adding Medicare Supplement or Medicare Advantage plans to fill the coverage gaps.

Medicare Part A and B cover many of the typical medical expenses of senior citizens. Some of these include visits to primary care doctors or specialists, laboratory tests, or hospitalization. These original parts of Medicare also cover stays in skilled nursing facilities, surgical procedures, and outpatient procedures.

However, Parts A and B do not cover all of a typical senior citizen’s expenses. For example, despite the near ubiquitous use of hearing aids in old age, Medicare does not cover hearing care, hearing exams, or hearing aids. Also not covered are dental care, dentures, vision care, routine foot care, or long-term care. Additionally, prescription drugs, for the most part, are not covered under the original Medicare but by Part D, which has to be purchased separately as supplemental insurance.

Therefore, if a senior citizen knows or anticipates that they will need any of the typical healthcare used by their demographic, such as hearing aids, glasses, dentures, or prescription medication, they would benefit from purchasing a supplemental insurance plan.

This video will help you determine whether a Medicare Supplement or Advantage plan best suits the needs of your client.   Click here to view. 

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