Medicare Supplement Plans

Medicare Supplement plans, also known as Medigap, are insurance policies designed to fill the "gaps" in Original Medicare (Part A and Part B). These gaps include costs like deductibles, coinsurance, and copayments that you would otherwise have to pay out-of-pocket. Medigap plans are offered by private insurance companies and can help make healthcare costs more predictable and manageable by covering these additional expenses. The purpose of Medigap plans is to provide financial protection against the potential high cost of healthcare. Since Medicare Part A and Part B have cost-sharing requirements and don't cover all health services, Medigap can significantly reduce out-of-pocket expenses. Overall, the purpose of Medigap plans is to complement your Original Medicare coverage, providing financial security and peace of mind by covering additional costs and offering benefits beyond what Medicare Part A and Part B provide. This can lead to more comprehensive health coverage, helping to ensure that individuals can afford the care they need without undue financial strain.

✔ Financial Protection

The purpose of Medigap plans is to provide financial protection against the potential high cost of healthcare. Since Medicare Part A and Part B have cost-sharing requirements and don't cover all health services, Medigap can significantly reduce out-of-pocket expenses.

✔ Additional Coverage

If you need extensive medical treatment or long-term hospitalization, Medicare will only cover a portion of the costs, and you could be left with substantial bills. Medigap plans can cover these extra charges, ensuring you're not financially overwhelmed by medical costs. Some Medigap plans offer benefits that are not covered by Original Medicare, such as emergency medical care when traveling outside the United States. This can be particularly valuable for individuals who travel frequently and want the peace of mind of having health coverage abroad.

✔ Standardized Plans

There are numerous plans to choose from- Plan ‘A’ to Plan ‘N’. All ‘lettered’ plans are standardized— meaning the same ‘lettered’ plan must offer the same benefits, no matter which insurance company you choose to get your coverage through. The only difference is the amount of the premium one company charges versus another insurance carrier.

✔ Flexibility

All Medigap plans allow you to go to any doctor or hospital that participates in Medicare. There are no physicians or hospital networks, or referrals required for a specialists care.

✔ Higher Premiums

These plans sometimes have higher monthly premiums, but the least amount of out-of-pocket costs compared to Medicare Advantage and Original Medicare. Plan ‘G’ is the most popular plan, which has no cost-sharing after you pay the Part B annual deductible.

✔ Guaranteed Issue

If you enroll during the Initial Enrollment Period (IEP), you have guaranteed issue for a Medicare Supplement plan, so you do not have to undergo medical underwriting. You cannot be denied coverage based on your health history or pre-existing conditions. The IEP is the ONLY time you can sign up for a Medicare Supplement plan with guaranteed issue; otherwise, you will have to undergo underwriting & may be rejected based on your health conditions.

Learn More:

  • Eligibility

    You’re eligible for Medicare Supplement insurance if you are enrolled in Medicare Part A and Part B.

  • Enrollment

    The best time is during your Medigap Open Enrollment Period. This period lasts for six months and starts on the first day of the month in which you are both 65 or older and enrolled in Medicare Part B. During this time, you have a guaranteed right to buy any Medigap policy sold in your state, regardless of your health status.

    Outside of this six-month period, you may not have the same rights to buy a Medigap policy, and if you do find a policy, it could cost more due to past or present health problems.

  • Cost

    If you enroll in a Medicare Supplement plan, you may have to pay some or all of the following expenses:

    • Original Medicare premiums

    • Medicare Supplement Plan premiums (varies on plan)

    • Medigap usually helps pay for your portion of costs (like deductibles and coinsurance) for services covered under Original Medicare.

As an independent agent, I have access to plans from most Medicare carriers. It is important to understand that individual insurance companies or TV 1-800 numbers have limited plans & will try to enroll you on their single-carrier plans which might not adequately cover your unique medical needs, thus leaving gaps in your coverage & care. Currently, I am licensed with 8 of the largest Medicare insurance carriers which offer over 70+ distinct plans- depending on your zip code. This wide selection ensures you find the most comprehensive & tailored Medicare coverage available to you at the lowest cost. Most importantly, because I am an independent agent, I have no bias towards any company- my commitment is to you!

The Value of Enrolling with a Independent Agent

•Complexity of Choices•

Medicare Supplement plans can vary significantly in terms of coverage & costs. An independent agent can help navigate these complexities by explaining the differences and assisting in finding a plan that best suits an individual's healthcare needs and financial situation.

•Personalized Analysis•

Independent agents can provide a personalized analysis of the available options, taking into account individual health requirements, preferred doctors and hospitals, medication needs, and financial circumstances. This tailored approach helps ensure that the chosen plan optimally aligns with the person's specific needs.

•Save Time and Effort•

Researching and comparing different Medigap plans can be time-consuming and overwhelming. These plans are standardized, meaning Plan ‘A’ has to offer the same benefits, but might be substantially cheaper with one insurance carrier vs another. An independent agent can streamline this process by quickly comparing costs and helping with the paperwork and enrollment process.

•Ongoing Support•

After enrollment, independent agents can continue to offer support, assisting with any issues that arise, answering questions about coverage, and helping with annual reviews of Prescription Drugs (Part D) to determine if a different plan may be more suitable as your needs or the plans available change.

THERE IS NEVER A CHARGE FOR OUR SERVICES.

Our role is to ensure you receive the most comprehensive and tailored coverage at the lowest cost possible. We assist you by providing plan guidance, selection, management, and more. Each year, we will review your coverage during annual enrollment period to make any needed changes based on your evolving health situation. As an independent agency we are not tied to any single insurance carrier, allowing us to focus on the unique needs of our clients without any conflict of interest- our commitment is to you! . Regardless if you use our services, we are always here with our experience and knowledge as a resource. We offer Medicare Beneficiaries information for FREE with no obligations. We are here to help guide you towards making an informed decision. It would be our privilege to connect you with a personalized Medicare plan.