09-07-2009, 06:31 PM
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CC Member
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Join Date: Sep 2008
Cobra Make, Engine:
Posts: 1,120
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Quote:
Originally Posted by cobra de capell
Hmmmmm..so you walk your talk, great!
As I understand your response under B - securing a supplemental policy under MediCare would be the same as securing a supplemental policy to compliment a private insurance policy in the workplace, e.g. it would cover the 20% gap etc if something were to happen - big time. The difference: 20% may be higher under a private plan since MediCare tends to pay less overall for services. True?
If that's true, no one in their right mind would even think about buying a supplemental policy in the private sector and should not buy a MediCare supplemental policy.
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I have never seen or heard of a supplemental policy for a major madical policy [the kind you'd have in the workplace.]
While 80/20 is fairly normal and there is no low price restriction like Medicare. There is almost always [any policy I sold had it] what is called a "STOP LOSS' clause. It states that you pay your 20% of whatever the charges are UNTIL you reach the 'stop loss' number. Could be $2000., $5000, $10,000, but once the insured is out of pocket that amount, the insurance covers at 100%. Neither Medicare nor Medigap polices ever had that 'stop loss' clause and that might have been the nucleus of seniors fears of huge medical bills in their old age. That fear was and is unfounded, but fears of the unknown always are.
Last edited by Dan40; 09-07-2009 at 06:34 PM..
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