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Medigap Plans – Mutual of Omaha

Many years ago, Medicare was introduced to the American public to help cover medical expenses of all Americans. It was devised by the United States Congress and later approved by the President. Medicare was developed to give everyone help with all their health concerns. Many things have changed with Medicare and many improvements were added, a little at a time, to help make it a better plan.

It was just a basic plan and has grown to cover more expenses to what it has become today. It was realized that more was needed than just the basic Medicare plan.

Different plans have been added to include various benefits to help people get better care for their medical needs. Medicare supplement plans, also known as Medigap, were devised to help with the added expenses. When Medicare was used for one’s health expenses, they found not everything was covered or paid for. Original Medicare only pays 80% of the medical expenses and the remaining 20% is the sole responsibility of the patient. This could be devastating to someone on a fixed income and use up their savings to pay those medical bills.

A Mutual of Omaha medicare supplement is a health insurance plan devised to help with the 20% leftover medical bills. They work with the Original Medicare. One must have Medicare Part A and Medicare Part B in order to obtain a Medigap supplement plan. There are many plans to choose from and they will cover various health issues that a person can choose from.  These plans are all standardized, meaning they are the same, no matter where you get them from. They have been designated by the letters A-L. Some are not available today, but there are several that are concise and will serve the person who has Medicare.

These policies are sold by private insurance companies and they determine the monthly premiums. These premiums will vary depending on where you live and which insurance agency you choose to go with. The policies are renewable each year. There are no group policies and each individual will acquire their own policy for their health needs.

Everyone needs to really look carefully at each Medicare supplement plan to see what health issues they wish to have covered and then find an insurance company whose premiums will benefit their individual monthly expenses. These Medicare supplement plans are something a person should consider to help pay their medical expenses that are left after Medicare pays its part.