When you reach age 65, you are eligible to enroll in Medicare, our federal health insurance program. Sounds like your health insurance coverage gets simpler by this age, right? Well, not really. This governmental health insurance may not be comprehensive in covering all your health care costs, so you might want to consider buying Medicare supplement insurance as well.
Medicare supplement insurance — also referred to as a Medigap policy because it is used to fill in the gaps in your Medicare — is private health insurance designed to supplement Medicare. It helps pay your health care costs that Medicare does not pay, including copayments, coinsurance and deductibles.
There are many standardized Medicare supplement insurance plans (of which Western & Southern offers six through one of our strategic partners). These various policies help you lower your out-of-pocket expenses and get more health insurance coverage. Medicare supplement insurance plans are neither connected with nor endorsed by the United States government or the federal Medicare program.
