Can I Have More Than One Medicare Supplemental Insurance Plan?

Whether To Buy More Than One Plan Or Not

When buying a medicare supplemental insurance plan, one of the first question that comes to mind is “Can I have more than one plan if the existing one does not cover all the expected expenses?”. The answer is yes. But is it practicably advantageous to have more than one policy? The answer is no. Unfortunately, a lot of people tend to make the mistake of buying more than one policy.

Reason Not To Buy

About 90% of the insurance companies in the market that sell medicare supplemental insurance plan have benefits more or less the same. Hence buying multiple policies will only duplicate the benefits in the existing one. There are certain clauses that are omitted in one policy but present in another, and depending on one’s health needs and priority, one can choose the right policy that pay for long term coverage gaps.

What To Look For

Knowing the restrictions and exclusions of coverage are crucial to a complete understanding before making an informed and intelligent purchasing decision, hence following are the questions to ask the agent selling such plans:
1) Is the policy renewable?
2)Are any pre-existing conditions excluded in the plan?
3)Are there any exclusion for mental illness or other disease?
4)Are there any time limits for coverage?
5)Is there a waiting period before choosing the medicare supplemental insurance plan?
6)Is there any waiver for premium during certain illness?
7)Is the policy worth the premium?
What is covered in case there is a long hospitalization?
9)How much of the benefits not covered by Medicare Part A and Part B are covered in this plan?
10)Are there any hidden clauses that are not mentioned on the agreement?
Insurance companies always claim that the kinks have been worked out, whether to agree with them or not is up to the insuree.

Related posts

1. What Should I Look For When Buying Medicare Supplemental?
2. How Soon Does My Medicare Supplemental Insurance Cover Me?
3. Can I Afford Medicare Supplemental Insurance?
4. Can The Pre-Existing Clause In A Medigap Policy Be Waived?
5. Medicare Supplemental Insurance: When Can My Policy be Canceled?

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