Investopedia

Medicare Supplementary Medical Insurance - SMI

Dictionary Says

Definition of 'Medicare Supplementary Medical Insurance - SMI'

Health insurance sold by private insurance companies meant to top up an original Medicare plan. Medicare supplementary medical insurance, commonly known as Medigap, covers additional healthcare costs that may not be covered under the traditional Medicare plan, such as emergency room services and ambulatory surgical procedures.
Investopedia Says

Investopedia explains 'Medicare Supplementary Medical Insurance - SMI'

Medicare supplemental heath insurance has 12 standardized policies, categorized as plans A through L. Typically, when purchasing supplemental medical insurance, one must already be covered under Medicare A and B. In addition to any premiums associated with the original Medicare plan, subscribers must also pay premiums for any Medigap services they purchase over and above their original plan; however, as long as premiums are paid in good order, Medigap insurance policies are guaranteed to be renewed the following year.

Articles Of Interest

  1. Getting Through The Medicare Part D Maze

    Having trouble sorting through your prescription drug coverage options? We offer some solutions to the confusing process of selecting the right Medicare Part D coverage for you.
  2. What's The Difference Between Medicare And Medicaid?

    One program is for the poor; the other is for the elderly. Learn which is which.
  3. What Does Medicare Cover?

    Don't assume you're insured. Find out what you can expect from this healthcare program.
  4. Filling In The Medicare Gaps

    Basic Medicare is not a perfect fit for everyone - sometimes, extra policies are required to suit a person's needs.
  5. Create Your Own Social Security Fund

    The government's Social Security program may not last forever - be prepared by setting up your own.
  6. Fighting The High Costs Of Healthcare

    If your employer is cutting medical benefits, a health savings account may be right for you.
  7. Health Insurance: Paying For Pre-Existing Conditions

    If you bring a pre-existing condition to a new insurer, you may find yourself without coverage.
  8. Enough Money To Not Worry

    Our retirement goals have not changed. We still want enough money to not have to worry about it. How we go about getting there, however, has been changed dramatically.
  9. Retirement: The One Thing Couples Shouldn't Do Together

    Staggering retirement can have both financial and emotional benefits for married couples.
  10. Top 5 Budgeting Questions Answered

    You don't need a degree to understand your money, begin saving and pay down debt.
comments powered by Disqus
Marketplace
Hot Definitions
  1. Happiness Economics

    The formal academic study of the relationship between individual satisfaction and economic issues, such as employment and wealth.
  2. Affluenza

    A social condition arising from the desire to be more wealthy, successful or to "keep up with the Joneses." Affluenza is symptomatic of a culture that holds up financial success as one of the highest achievements.
  3. Icarus Factor

    The term Icarus factor describes a situation where managers or executives initiate an overly ambitious project which then fails. Fueled by excitement for the project, the executives are unable to reign in their misguided enthusiasm before it is too late to avoid the failure.
  4. Angelina Jolie Stock Index

    An index made up of a selection of stocks from companies associated with actress Angela Jolie.
  5. Consequential Loss

    The amount of loss incurred as a result of being unable to use business property or equipment.
  6. Lease To Own

    An arrangement where an individual enters into a lease agreement with an owner with the inclusion of a clause that typically gives the individual the right, but not the obligation, to purchase the item leased at a predefined price and time.
Trading Center