Ask Terry Questions Do i need a Medicare supplement policy?

Do i need a Medicare supplement policy?

By Terry Savage on December 05, 2016 | Insurance & Annuities

I saw this article (pasted below) and wondered is this good advise to not get supplemental insurance? Thank you. Medicare Supplemental Policies: Do You Need One? If you’re on Medicare or about to receive Medicare you might be wondering: “should I also get supplemental health insurance?” The truth is, if you get supplemental insurance for free (for example, from your former employer), then sure. Otherwise, if you have Medicare and buy a supplemental policy with your own money, you are effectively giving an insurance company your money so that they can keep it.

Terry Says

Well, that article has one dangerous and potentially expensive flaw!  You DEFINITELY should sign up for a Medicare supplement immediately upon signing up for Medicare.  You cannot be turned down for the most comprehensive supplement policies for health reasons if you sign up within 6 months of qualifying for Medicare.  If you wait, you could find yourself unable to purchase a good supplement because of health issues.  



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