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Virginia Medicare Supplemental Insurance

Virginia Medicare supplemental insurance can mean the difference between steep medical bills and the ability to comfortably pay for all the treatments and procedures you need as you get older. Living in a state like Virginia means your retirement should be filled with exciting mountain hikes or trips to national landmarks like Arlington, VA, not stressing about whether or not you can pay your medical bills.

Medicare, a federal program available to all Virginia seniors age 65 and older, as well as other Virginians with certain medical conditions, is designed to offer a basic level of coverage, particularly after retirement. The program doesn't cover all treatments and costs, however, leaving gaps in both the care offered and the financial coverage.

Since Medicare covers an incomplete list of services, and pays for only a percentage of the total cost, many seniors will need additional coverage, prompting the need for Virginia Medicare supplemental insurance. Supplemental coverage plans are offered by private companies and can help cover otherwise out-of-pocket expenses for treatments that are not fully covered.

Fundamentals of Medicare

Medicare consists of three basic parts, including a plan for hospital stays, one for doctor visits and preventive care, and one for prescription drugs. These plans are known as Plans A, B and D, respectively. Seniors who have enrolled in Plans A and B are eligible to supplement their insurance with additional private coverage. This supplemental insurance can cover extended hospital stays, certain preventive services and premiums that are not covered by the regular three plans.

As you consider purchasing Virginia Medicare supplemental insurance, it's a good idea to research what the original insurance will cover before adding coverage. If you have a condition that often requires short-term hospitalization, for example, knowing that Plan A only covers inpatient hospital stays after 72 hours can help you determine that you probably need Virginia Medicare supplemental insurance. Even if you don't have any outstanding medical issues now, experts advise adding private coverage within six months of having both A and B coverage, since in this Open Enrollment window you are not required to take a medical exam for coverage. It's also advisable to educate yourself on the options available for additional private coverage.

Types of Supplemental Coverage

Although choosing additional insurance is often wise given unforeseeable medical problems or catastrophes, Virginia Medicare supplemental insurance can be very confusing. With no less than 10 different standardized plans to choose from, represented by letters of the alphabet, each supplemental insurance plan offers something different. Plans C through G, as well as M and N, for example, offer emergency coverage while you travel to foreign countries, among other services. Plans K and L offer an out-of-pocket annual limit. If your head is spinning, you're not alone. Speaking with a Virginia Medicare supplemental insurance expert can help you determine which of these plans to choose.

Benefits of Supplemental Insurance

Virginia Medicare supplemental insurance can help pay for many services that regular Medicare plans cannot cover, such as hospital stays after 190 lifetime days, certain types of preventive care, and emergency coverage while you're traveling abroad. Having this kind of coverage is a great idea for Virginia seniors who plan on a retirement full of travel and adventure. Choosing supplemental care gives you the peace of mind that should something catastrophic hit while you're out of the country, you'll have invested in coverage that can help you pay for needed medical care.

Benefits can also include coinsurance for visits to doctors' offices, coinsurance for skilled nursing, and an out-of-pocket annual limit. Since original plans only cover 80 percent of the amount that Medicare agrees to pay of the total, seniors are often left with at least 20 percent of the full cost. Additional coverage often takes care of those remaining procedural costs for one monthly fee.

Getting Covered in Virginia

There are several options for purchasing Virginia Medicare supplemental insurance. A little research can determine which company offers the plans you need at the best price. Whether you live in Richmond, VA or Chesapeake, VA, choosing a local company is often the best place to start to get sound advice. An expert can tell you how much extra coverage you need and also give you tips on maintaining a healthy lifestyle.

Virginia Medicare supplemental insurance is advisable for most seniors in the state, no matter what their current health situation is. No Virginia retiree should neglect fully covering possible medical costs, even if he doesn't foresee any immediate health problems. Planning ahead can make a big difference when the unexpected strikes. Those in Virginia who choose to prepare with extra coverage will find themselves in a much easier financial situation should something happen than those who decide to take their chances with the bare minimum.

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