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Medicare Supplement Plan Options

Medigap Plan Options
10 Things to Know about Medicare Supplement Plans
1. The terms Medigap and Medicare Supplement are synonymous. They refer to the same product or type of insurance. 2. The doctor network is not dependent on the brand or non-brand name insurance carrier you choose. It is dependent on whether your doctor accepts original medicare. 3. You must have both Part A & B to enroll into a medigap plan. 4. Plan A and Part A are not the same thing. Refer to this article for information on Part A of original medicare. Same for Plan B and Part B. 5. Each plan provides a standardized benefit across each insurance company, meaning they provide the same medical benefits. 6. Most of the time you can not simply just switch from one Plan to another, unless you qualify for guarantee issue. If you do not qualify for guarantee issue, you will be required to answer medical questions. This process is called ‘medical underwriting’. Each company has different underwriting requirements. 7. Medigap plans do not include prescription coverage. 8. Medigap plans do not include vision or dental coverage. 9. You will get the same price using a broker like Buffer Benefits, or going directly to the insurance company. 10. Don’t know where to start? Take a look at the most popular plan, Plan F.
Dive Deeper
Click below on a plan to dive deeper in the specific structure and benefits:
Medicare Supplement Benefits A B C D F1 G K2 L3 M N4
Part A co-insurance and hospital costs
Part B co-insurance or co-payment 50% 75%
First 3 pints of blood 50% 75%
Part A hospice care co-insurance or co-payment 50% 75%
Co-insurance for skilled nursing facility     50% 75%
Medicare Part A deductible   50% 75% 50%
MedicarePart B deductible                
Medicare Part B excess charges                
Foreign travel emergency     80% 80% 80% 80%     80% 80%
1. Plan F offers a high-deductible plan. This plan requires you to pay a $2,300 deductible in 2019 before it covers anything. 2. Plan K has an out-of-pocket yearly limit of $5,560 in 2019. After you pay the out-of-pocket yearly limit and yearly Part B deductible, it pays 100% of covered services for the rest of the calendar year. 3. Plan L has an out-of-pocket yearly limit of $2,780 in 2019. After you pay the out-of-pocket yearly limit and yearly Part B deductible, it pays 100% of covered services for the rest of the calendar year. 4. Plan N pays 100% of the Part B coinsurance, except for a copayment of up to $20 for some office visits and up to a $50 copayment for emergency room visits that don’t result in an inpatient admission.

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