Medicare Supplement Insurance policies, sold by private companies, can help pay some of the remaining health care costs for covered services and supplies, like copayments, coinsurance, and deductibles. Medicare Supplement Insurance policies are also called Medigap policies.
Medigap policies are standardized. Every Medigap policy must follow federal and state laws designed to protect you, and they must be clearly identified as “Medicare Supplement Insurance.” Insurance companies can sell you only a “standardized” policy identified in most states by letters A through D, F, G, and K through N. All policies offer the same basic benefits, but some offer additional benefits so you can choose which one meets your needs.
If you’re interested in getting a Medicare Supplement policy, our agency can help you shop private carriers to find you the right policy at the right price.
So how does Medicare Supplement Insurance Work?
If you have medical costs that are covered by Medicare, your Medicare policy will pay the Medicare-Approved amount (typically, less than the actual amount of your doctor’s bill, then you’re responsible for the rest), then your Medicare Supplement Plan will pay its share.
When Can I Buy Medicare Supplement Insurance?
Typically, the best time to buy a policy is during Medicare Open Enrollment. You first become eligible, 6 months after you turn age 65 and are enrolled in Medicare Part B.
How Much Is Medicare Supplement Insurance?
The cost of your plan will depend greatly on which plan you choose. There are many supplement plans to choose from so pick a plan that is the right fit for your budget and needs.
What Are The Different Medicare Supplement Insurance Plans?
There are 10 different Medicare Supplement Insurance Plans that are available in most states through private health insurance. Those plans are: A, B, C ,D, F, G, K, L, M and N.
Which Supplement Plan Is Right For Me?
Only you can decide what Medicare Supplement Plan is right for you. A licensed agent in our office can help you navigate your choices, but ultimately, only you can choose what’s right.
Does It Cost More To Go Through An Agent?
No, it does not cost anything to have our agents help you with your Medicare plan choices and you will not pay more for the plan.
How Do I Choose A Medicare Supplement Insurance Plan Company?
Your agent will go over each plan and help you find an insurance company that fits your needs and budget. They will then help you with signing up for that plan and paying for it.
To setup an appointment with an agent in our office, please click the link above or fill out the quick contact form to the right. You may also call us anytime during business hours. We’re excited to help you find a plan and look forward to hearing from you.