Understanding all the different Medicare Insurance Supplements can be confusing. This article will help you understand how to compare the different Medicare Supplemental Insurance plans. These plans are also known as Medigap Plans. There are ten Medigap plans that are standardized across the industry. Plans A, B, C, D, F, G, K, L, M, and N. A Plan A is a Plan A, no matter which company it is purchased from. There may be some variations by state. You should check with your State Health Insurance Assistance Program to determine these variations.
The price of the plans varies by company for the same plan. A different company may have lower or higher cost. Medigap Advisors can help determine the differences between the plans and help you compare prices.
The quotes at Medigap Advisors are always FREE and you can receive them online or with the assistance of a specially trained professional advisor.
Heres an easy simple step-by-step guide to selecting the best Medigap policy for you:
Step 1: How much coverage do you want for out-of-pocket expenses? Co-Insurance, Co-Pays, Deductibles and Excess Charges.
Step 2: What are your current and expected expenses? Doctor visits, hospital, post-hospital skilled nursing, prescription drugs, foreign travel
Step 3: Compare plans
MediGap Advisors can help you sort through the 10 Medigap plans now available by comparing your situation and needs to the benefits of each plan.
We will take a look at your biggest health care expenses and show you the best Medigap plans to protect you from charges that Medicare doesnt cover.
If hospital care a big concern for you, youll need coverage for Medicares Part A $1,100 deductible because you have to spend that much out-of-pocket per illness before Medicare pays for hospital bills. You can take care of the Part A deductible with any one of nine Medigap plans.
If you spend a lot on doctor office visits, you have to meet an annual Part B deductible before Medicare pays for your doctor bills. The best Medigap plans, the ones with the most comprehensive coverage, reimburse you for the Part B deductible.
Medigap Plans C and F will reimburse you for that deductible regardless of how much it is in any given year.
Medicare pays for 80% of a pre-approved amount for doctors services, after the Part B deductible has been met. You can choose from seven of the best Medigap plans to pay for the 20% thats left.
It's important to know if your doctor accepts Medicares pre-approved amount. Doctors may charge more for a procedure than Medicare will pay. When Medicare covers 80% of a pre-approved amount, Medigap covers 20% of the same pre-approved amount. Your doctor could charge a lot more than Medicares pre-approved amount and leave you to make up the difference. Medigap Plan G pays for 80% of any doctor charges above what Medicare will pay.
For a slightly higher premium, Plan F will cover 100% of these excess charges.
The best Medigap plans help whenever Medicare doesnt completely cover your health care expenses. That includes doctor and hospital bills, but it also helps with skilled nursing facilities and even emergency care when youre traveling out of the country.
Medicare will cover 20 days of care in a skilled nursing facility following hospitalization. You have to meet your Part A deductible before Medicare picks up the charges. After 20 days, you have to pay for a portion the daily costs from day 21 through 100, but eight Medigap plans will pay your share for those days.
Medicare has no coverage at all for any emergency medical care outside of the country. You can travel safely with a several of the best Medigap plans. They will cover 80% of your emergency medical care during the first 60 days youre abroad, with a $250 deductible.
The best Medigap plans cover your costs whenever Medicare will not pay.
To find the plan thats just right for you, list your biggest health care costs and see which Medigap plans cover those charges for the lowest premiums.
After you compare Medigap plans, compare the prices different insurers are offering on the plan you like most.
You can save a lot of time and effort with free professional advice from the Medicare Supplement experts.
As the nations leading independent agency specializing in Medigap plans, MediGap Advisors can show you how you can save money with the best Medigap plans that fit your needs and your situation.
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