Once you hit the age of retirement, the whole process of getting and keeping medical insurance becomes slightly more complicated than when you were a working adult. For most retirees, medical insurance will come in the form of Medicare, which is a federal health insurance program designed for senior citizens. Beyond what is offered through standard Medicare insurance, there are forms of supplement insurance you can get to pick up the slack where Medicare does not cover something.

Unfortunately, there are a lot of misconceptions about Medicare supplement insurance programs. Here is a look at a few of the most common misconceptions about these supplement policies and the real facts you need to know. 

Misconception: Medicare supplement policies cover prescription costs even if you have Medicare coverage. 

Fact: You cannot get drug coverage through both Medicare and your supplement plan. If you have a Medicare supplement plan that actually covers some of the prescription costs you have and would rather switch to supplement drug coverage through Medicare alone you can. You just cannot have both plans active at the same time. Prescription drug coverage through supplement plans is actually no longer available for new patients, but some patients have grandfathered drug coverage that followed them with a long-standing supplement policy.

Misconception: You can get a medicare supplement policy even if you have a Medicare Medical Savings Account (MSA) plan.

Fact: If you have an MSA plan, the extra costs for deductible coverage when necessary is already basically covered. Therefore, you will not need the supplement policy for the same purpose. It is actually illegal to sell a Medicare recipient a supplement plan who also has a MSA plan. 

Misconception: Medicare supplement plans can be cancelled if you develop a new threatening health condition. 

Fact: Unlike many other forms of health insurance, Medicare supplement policy offerers are held to strict standards because of the fact these plans are an extended form of insurance that is offered by the government. Because of this, a supplement insurance company cannot cancel or withdraw your policy if something happens and your health deteriorates or you are diagnosed with a threatening health condition. 

Even though obtaining a Medicare supplement plan can be a little confusing in the beginning, once you have one in place, you will reap great rewards. Contact a Medicare supplement provider for assistance with choosing a plan that works for you and your existing coverage types.  

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