Senior Health Insurance Program: Monumental 65th Birthday
Turning 65 is a very monumental event in a person’s life. In some aspects, it means a right of passage from the daily grind to a life of leisure. Most people have planned all of their lives for this monumental birthday. There are certain benefits that come with turning 65. As you know you will be referred to as being a “senior citizen” and in our scheme of things that is quite an honor and as a result you are extended benefits and discounts that others are not privy to. Some department stores have days that are designated for senior citizens where you can receive extra discounts. Restaurant offer discounts for senior citizens as well. When combined with other offers you can reap a lot of benefits. The same holds true for health care coverage as well. Once you turn 65 you are automatically enrolled in traditional Medicare, but the benefits don’t stop there. Once you are enrolled in Medicare Part A, you can also take advantage of another program, which is senior health insurance coverage.
As was stated above, once you are enrolled in both Medicare programs you are entitled to enroll in a Senior Health insurance program or Medigap as it is otherwise referred to. This valuable coverage will take up where traditional Medicare leaves off. As you may know, Medicare will cover approved procedures and equipment at 80% leaving you with a 20% balance. Your Medigap coverage will cover the remaining 20% and all you pay is your monthly premium payment. You can receive these benefits during the open enrollment phase, which begins on the first day of the month that you are both 65 and older and are enrolled in Medicare part B. A Medigap plan can save your hundreds of dollars because the remaining 20% of a medical bill can be quit costly because there is not cap on what you can be charged. It is easy to be insured, all you have to do is complete an application and you have guaranteed coverage if done during open enrollment. There is no underwriting process that you need to go through if you just turned 65 and want a SENIOR SUPPLEMENT.
So you see, there are great benefits to having this very monumental 65th birthday. Go ahead and enjoy the perks that come with it, all with peace of mind knowing that you are insured and have the Medicare Supplements you need, when you need it.