Medicare supplement insurance fills in the gaps between what original Medicare pays and what you must pay out-of-pocket for deductibles, coinsurance, and copayments.
Medicare supplement policies only pay for services that Medicare says are medically necessary, and payments are generally based on the Medicare-approved charge. Some plans offer benefits that Medicare doesn't offer, such as emergency care outside of the United States.
Medicare supplement policies are sold by private insurance companies that are licensed and regulated by TDI. Medicare supplement benefits, however, are set by the federal government.
It's best to buy Medicare supplement insurance during your guaranteed-issue enrollment period. Your open enrollment period begins when you enroll in Medicare Part B at age 65 or older. During this time, companies can't refuse to sell you a policy because of your health history or condition. If you wait until after this enrollment period, you might not be able to buy a policy if you have a preexisting condition.
Note: Your Medicare supplement policy is typically renewed automatically each year to ensure you have continuous coverage. If you drop your Medicare supplement policy, you may not be able to get it back, or you might not be able to buy a new policy.
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