No Substitute for Supplemental Insurance

As individuals get closer to the point where they are eligible for Medicare benefits, it is easy for them to get confused about what types of coverage are available and what covers which things.

One point of confusion is the difference between Supplemental Medicare Insurance and Long Term Care Insurance.  The basic difference is that Supplemental Medicare Insurance covers some of the things that basic Medicare does not cover, including prescriptions, certain treatments and other medical needs.  There is a great deal of information regarding supplemental plans on the Medicare website at www.medicare.gov or www.cms.gov. 

Long Term Care Insurance, on the other hand, covers care not covered by Medicare.  Since Medicare is limited in Long Term Care Coverage, it only pays up to 100 days of care.  This care must be medically necessary skilled care and follow at least a three-day hospital stay.  It must be provided in a Medicare approved facility.  Long Term Care can also be provided at home, but has strict limitations.

There are a number of places that you can obtain coverage about Long Term Care Coverage.  We have mentioned the Medicare website above, and in addition, the booklet “A Shoppers Guide to Long Term Care Insurance” is available by calling 1-800-492-6116.  This booklet was created by the National Association of Insurance Commissioners and provides invaluable information about how to purchase this type of insurance.  It also lists reputable insurance companies who sell Long Term Care Insurance.

It is important for you to research and compare, no matter what kind of supplement or other insurance you need in addition to your basic Medicare benefits.  Talk to the Medicare Administration or one of the agents listed in the “Shoppers Guide”.  Make comparisons and decide what is right for you.  There is accurate and reliable information that is easily available to end confusion for Medicare recipients.  Do your research so that you will have peace of mind.