Is Medigap Insurance Tax Deductible?

While some things get easieras we age, understanding medical expenses and traversing taxes never do. Thiscan be especially true when it comes to an understanding of qualified medical costs and how you can get a tax break. Medigap Insurance Medigap plans are purchased from private insurance companies to cover health care costs not covered by original Medicare. Medigap plans coverthings like copayments, deductibles, and health care expenses if you are traveling outside the US. Medigap policies are only an option if you already have Medicare Part A that covers hospital...

Is it Worth Getting Medicare Supplementa...

This is a good question that’s asked by millions of Americans – especially as they approach retirement age.  It’s also a complicated question, and the short answer is: it depends. First, let’s talk about what Medicare and Supplemental Insurance are: Medicare is a government program broken down into 4 main parts.  Put simply, Part A covers hospitalization costs; Part B covers doctor’s visits and medical tests; Part D is offered through private insurers and covers prescription drugs.  Part C, sometimes called Medicare Advantage, are private health plans approved by the...

When Can I Change My Medicare Supplement...

There are a few situations that may cause you to explore other options for yourMedicare Supplement Plan (Medigap). Maybe your needs have changed, and you’ll require additional benefits. Or perhaps you want to change the insurance company that is providing the coverage. You could even be looking at other Medigap policies that cost less. Whatever the reason, keep these tips in mind before you cancel your current policy and switch to another one. Timing is critical to ensure you don’t have a lapse in coverage. Know Your State Federal law won’t allow Medigap policy changes...