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When it comes to baby boomers and healthcare needs, learning and purchasing coverage provided by Medicare Supplemental Insurance Plans (also known as Medigap) is the way to go. But do you know that this helpful insurance policy may also help individuals improve their health literacy skills?

Going with this train of thought, the opportunity to boost health literacy is crucial, especially for people preparing for the retirement phase of their life. In fact, according to the National Assessment of Adult Literacy, over 77 million Americans were recorded to have poor health literacy skills. And this statistic correlates to not only medical, but financial problems as well.

How so, you might ask. The American Medical Association stated that individuals with an inadequate level of this skill are expected to have unnecessary emergency room visits, longer hospital stays, and a higher mortality rate. What’s more troubling – and related to the 77 million statistic – is that only 12% of adults have the required health literacy skills meant to manage and prevent disease.

This is why we’d like to promote and make more people aware of this issue – think of this post as your gateway towards a better understanding of health instructions and the like. And by connecting health literacy with Medigap, we hope more people get to equip themselves with the right mindset to face a healthier and financial-wise future.

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Medicare Supplemental Plans as a Learning Opportunity

In a nutshell, Medigap plans help policyholders pay for out-of-pocket costs not covered by Original Medicare Plans. These costs, such as copayments, deductible, and coinsurance fees can quickly deplete one’s hard-earned savings if not addressed properly.

But how does this insurance connect to health literacy? Well, there are ten standardized plans to choose from. And each plan differs in the scope of coverage, allowing applicants to select a policy to best fit their unique needs or preferences. Regardless of which policy one chooses, these are covered in all plan types:

· Part A coinsurance fees

· Part A copayments (hospice care)

· Part B coinsurance fees or copayments

· The first three pints of blood (if needed by policyholder

Now, inquiring about the plans and learning what is covered allows an applicant the opportunity to dig deeper and know more about how medical procedures work. Aside from selecting a plan that will fit one’s choices, this approach can also be seen as an opportunity for an individual to learn – and expect – what is needed to cover for his or her retirement. It sparks interest! And an interested applicant will more than likely want to discuss further and seek out more solutions for a brighter tomorrow.

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The Chance to Network

Medicare Supplement Plans cost is mainly determined by a private insurance company. So you need to find an agent who will give you the necessary information for you to understand how a policy works and how much it’ll cost you.

And the great thing about this is that you’d be able to inquire more of additional details. For example, if you plan to go on a trip during the twilight years. An agent may then offer you a policy that includes foreign travel coverage as an additional layer of security. From there, you can ask more about features and the like, for you to craft a strategy that will address other issues that you’d like to tackle.

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Best of all, since private insurance companies sell Medigap insurance, applicants have the power to choose an agent to work with. And aside from shopping around for a plan with the best price for your budget, you’d also get more chances to build a network of care support. Isn’t this an excellent way to prepare for your future?

The bottom line is, Medicare Supplements provide individuals more than essential retirement coverage. The entire application and inquiry process of the plan provides people a chance to ask and learn more of the health industry. And that mainly is needed to have the future you desire!