Is a Medicare Supplement Insurance Plan Worth It?

When you sign up for Medicare Parts A and B, you also have the option to apply for a Medicare Supplement insurance plan.

A Medicare Supplement plan, sometimes called “Medigap,” is a private insurance policy that can help pay for some of the health care costs that Medicare doesn’t cover. But is this coverage really necessary? And more importantly — is it worth it?

WHY CHOOSE A MEDICARE SUPPLEMENT PLAN?

To answer those questions, it may help to understand why you’d want to enroll in a Medicare Supplement plan in the first place. Here are some important reasons:

• It helps pay the portion of approved expenses not covered by Medicare. This can include out-of-pocket expenses such as copayments, coinsurance and deductibles.
• There are a variety of plans to meet your needs. KVIS & Coe offers four supplemental insurance plans designed to fit your life and your budget.
• With no network, you can choose any doctor or hospital that accepts Original Medicare.
• Coverage is guaranteed to renew each year (unless you make untrue statements, commit fraud, or fail to pay premiums).

IS IT WORTH IT?

As with any insurance policy, the answer to whether the cost is “worth it” will largely depend on your personal financial situation.

But health care and out-of-pocket expenses for Medicare participants are on the rise. If you’re concerned about your ability to pay unforeseen health care costs, you’ll probably find that the peace of mind a Medicare Supplement plan can provide is worth the cost.

And if you’re already an KVIS & Coe customer, you may be eligible to get lower premiums with discounts, including:

• Household Discount: Available if someone else in your home has an KVIS & Coe Medicare Supplement plan. The availability and amount of this discount varies from state to state. Ask your agent for details.
• Multi-policy Discount: Available when the Medicare Supplement plan covers an KVIS & COe auto, home or life policyholder. Not available in all states.

TALK TO A KVIS & COE AGENT

When it comes to reviewing and choosing a Medicare Supplement insurance plan, the decisions can be daunting. But you don’t need to be an expert because we’re here to help. Contact your KVIS & Coe agent for your free Medicare Supplement guide.

Our KVIS & Coe agents can help you select the best supplemental plan for your life and your budget. (Available plans vary by state.)