Because agents need to present all options to their clients, they need to be able to answer the question; why choose a Medicare Supplement. This is especially true due to Medicare Advantage plan changes scheduled to take place in 2025. Some of these changes will include discontinuing some added benefits and higher co-pays for some services. For this reason as well as some we list below, clients may be more inclined to enroll in a Medicare Supplement plan
Click here to watch a video on the MA plan changes for 2025
Reasons to choose a Medicare Supplement
Due to the fact that as people age their health care needs tend to grow, most individuals require more comprehensive healthcare coverage. For many people Medicare is the cornerstone of their healthcare plan. However, while Medicare offers substantial coverage, there are gaps that can leave individuals with unexpected medical expenses. This is where Medicare supplement (Medigap) plans, come into play. Here are some good reasons your clients might opt for a Medicare supplement plan.
Fill the Coverage Gaps
Medicare Parts A and B provide coverage for hospital stays, doctor visits, and approved medical services. However, they don’t cover everything. Because things like deductibles, coinsurance, and copays can quickly add up, Medicare supplement plans are designed to fill these gaps. They help cover expenses such as copays, coinsurance, and deductibles, thereby reducing out-of-pocket costs for beneficiaries.
Freedom to choose healthcare providers
One of the best benefits of a Medicare supplement plan is the freedom to choose your healthcare providers. Unlike Medicare Advantage plans that require enrollees to use only in-network providers or pay a higher price, Medicare Supplement plans allow enrollees to use any doctor or hospital that accepts Medicare assignment. In other words, they can use any healthcare provider they need without worrying about network restrictions.
Medical coverage while traveling abroad
Medicare supplement plans provide coverage for emergency medical expenses enrollees incur while traveling abroad. While Original Medicare typically does not cover healthcare services outside of the United States (with a few exceptions), certain Medicare Supplement plans provide coverage for emergency care during foreign travel. This is an important benefit for seniors who enjoy traveling or have family members living abroad.
Predictable costs
Because Medical expenses can be unpredictable, it can be a challenge to budget for healthcare costs, especially during retirement. With a Medicare supplement, enrollees know exactly what their monthly premium is, as well as any out-of-pocket costs for covered services. This predictability can provide peace of mind and financial stability, allowing you to focus on enjoying your retirement years.
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Guaranteed renewable
Medicare supplement plans are guaranteed renewable. This means the insurance company cannot cancel coverage as long as premiums are paid on time. This reassures that enrollees have continuous coverage, regardless of changes in health or medical history. Additionally, once enrolled in a Medicare supplement plan, beneficiaries have certain rights and protections, including the ability to switch plans without being subject to medical underwriting.
Find out about Medicare Supplement Guaranteed issue rights.
Enrolling in a Medicare supplement plan offers many benefits, including filling the coverage gaps left by Original Medicare, freedom to choose healthcare providers, emergency coverage for medical expenses while traveling abroad, predictable costs, and guaranteeing renewable coverage. By investing in a Medicare supplement plan, enrollees safeguard their health.