subject: Medicare Supplemental Insurance - What Are The Disadvantages? [print this page] There are disadvantages to Medicare supplemental insurance. It can be expensive or financially draining if you are paying for a policy that you don't need. These policies were designed to cover the gaps in the original Medicare plan. It is necessary for some, but completely unnecessary for others. However, it's not a cure-all for every medical situation. There are certain things that you should be aware of before purchasing medigap insurance. You've probably read about all of the advantages to it already. Now it's time to examine the disadvantages to it.
There are a limited number of providers for Medicare insurance. Not every insurance company sells supplemental policies. The ones that do may not sell the policy you're looking for. Insurance companies aren't required to sell supplemental policies at all. They can pick and choose which ones they want to sell and which ones they don't want to sell. Since the number of providers is limited, you may find that you can't locate an insurer with the type of supplemental insurance policy that you need. Even if you do, you're faced with another problem.
Your Medicare supplemental insurer may leave. If the area you live in isn't profitable for the company, they can stop offering the policy altogether. There is no guarantee for continuance or coverage with supplemental insurance. This means that at any given time, your company can leave, often times without giving you proper notice. You may be forced to pay a higher price at a competitor. Or you may have to buy another type of supplemental insurance. This new policy may not cover you the way your previous one did.
You're also subject to strict limitations with supplemental insurance. Just as with other insurance plans, you may not be able to visit any doctor you wish. You will be restricted to a certain network of doctors. This can prove to be a disadvantage for several reasons. If you're going to be out of town, and you find yourself suddenly in need of medical attention, you may be stuck with the bill because you're visiting a doctor that's out of your network. The same thing applies if you need to see a specialist. Your visit to a specialist must be approved by your primary physician before your supplemental insurance will consider paying for it. If neither one thinks it's necessary to see a specialist, you'll be stuck with another bill.
by: Dave Miller
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