Supplemental Insurance Basics
What is the best supplemental insurance for seniors?
The best supplemental insurance for seniors depends on their specific needs. Medicare Supplement Plan G is the best for covering Medicare cost-sharing. Cancer insurance is valuable given the high cancer risk for seniors. Hospital indemnity insurance helps cover hospital stays. Long-term care insurance covers custodial care not covered by Medicare.
Key Points
- Medicare Supplement Plan G: best for covering Medicare cost-sharing
- Cancer insurance: valuable given high cancer risk for seniors
- Hospital indemnity insurance: covers hospital stays
- Long-term care insurance: covers custodial care not covered by Medicare
- An independent agent can help seniors identify the right combination of coverage