Medicare Supplement Plans
There are 2 main ways to get your Medicare Coverage once you have Medicare Part A and Part B.
You must have Part A and Part B first , the main part of the road if you will. Once you have Part A and Part B, you need to decide which way to go, which path to take if you will: Medicare Advantage OR Medicare Supplement (with a stand alone prescription drug plan). I will help you decide which path is best for you once you have Part A and Part B in place. I will certainly help you get Part A and B if you need my assistance. I help several of my clients with this important part.
Medicare Part A and B alone will not cover all of your health care costs and more importantly does not provide a cap for your risk should you become ill or need hospitalization. You will be responsible for the remaining 20%. This is why it is IMPERATIVE you seek the help of an health insurance agent to help you enroll in a Medicare Supplement Plan (and a stand-alone Prescription Drug Plan or Part D), or a Medicare Advantage Plan (Part C). I can explain the difference between the 2 paths you can take once you have Medicare Part A & B. Regardless the path you choose, you will need Medicare Part A and B to start. Medicare Supplement insurance plans help to pay your out-of-pocket costs that original Medicare Part A and B does not cover.
Medicare Supplement Plans are identified by various letters of the alphabet such as: Plan A, Plan G, Plan N, Plan L, Plan F and others. These plans are standardized plans which means they offer the same coverage regardless of insurance company. What makes them different is the cost of the plan and the rate of increase over time. I can help you find the best plan in your area if you decide a Medicare Supplement is the best option for you. The monthly premiums will range from $130 - $180/month if you are new to Medicare. Medicare Supplements require that you pass health questions (underwriting) except during your 6-month Medicare Supplement Open Enrollment Period, which begins on your Part B effective date. You can enroll in a Medicare Supplement Plan without answering any health questions regardless of your health history during this 6-month period.
Medicare Supplement plans allow you to see any doctor who takes Medicare without a referral throughout the nation. Most Medicare Supplement plans pay the remaining 20% that original Medicare does not cover, depending on the plan you choose. Plan G Medicare Supplement covers everything Medicare covers except for the Part B annual deductible of $233/year.