WHAT YOU SHOULD KNOW.
All our Medicare Supplement plans pay benefits regardless of which doctors and Medicare-participating hospitals you use at home or anywhere across the country.
Since Original Medicare does not cover all your health care expenses, most people find they need additional coverage. A common choice is “Medicare Supplement” coverage, sold by private insurance companies. A Medicare Supplement policy helps to pay some of the health care costs that Original Medicare doesn’t cover– including copayments, coinsurance, and deductibles. Some policies even cover foreign travel emergency medical care. medicare supplement plans Arizona
A Medicare Supplement policy is designed to work hand in hand with Original Medicare. When you receive medical care, Medicare will pay its share of the approved amount for covered expenses. Your Medicare Supplement coverage will then pay its share to help cover costs you would otherwise have to pay out of your own pocket.
For a Medigap plan, you pay a monthly premium to the insurance company in addition to your Medicare Part B premium. The cost of your Medigap policy depends on the type of plan you buy, the insurance company, your location, and your age. A standardized Medigap policy is guaranteed renewable– even if you have health problems– if you pay your premiums on time.
Medicare supplement plans don’t work like most health insurance plans. They don’t actually cover any health benefits. Instead, these plans cover the costs you’re responsible for with Original Medicare.
These costs can include:.
- Your Medicare deductibles.
- Your coinsurance.
- Hospital costs after you run out of Medicare-covered days.
- Skilled nursing facility costs after you run out of Medicare-covered days.
Less expensive plans have fewer benefits and higher out-of-pocket costs. More expensive plans include extra benefits, like some Medicare deductibles, additional hospital benefits, at-home recovery, and more. You have to decide what sort of plan makes the most sense for you. If you drop your Medigap policy, there is no guarantee you will be able to get it back.
Some Medigap plans used to cover prescription drugs. Since the introduction of the Medicare Prescription Drug Plan (Part D), you can no longer sign up for these plans. If you already have a Medigap plan that covers prescriptions, however, you can keep it.
For more information about Medigap plans, see the Medicare web site at www.medicare.gov or call 800-MEDICARE (1-800-633-4227).
A Medicare Supplement Insurance (Medigap) policy helps pay some of the health care costs that Original Medicare doesn’t cover, like:
Medigap policies are sold by private companies.
Some Medigap policies also cover services that Original Medicare doesn’t cover, like medical care when you travel outside the U.S. If you have Original Medicare and you buy a Medigap policy, here’s what happens:.
- Medicare will pay its share of the Medicare-approved amount for covered health care costs.
- Then, your Medigap policy pays its share.
Our Agents Can Answer Questions & Help You Find A Plan That Fits Your Needs A Medigap policy is different from a Medicare Advantage Plan. Those plans are ways to get Medicarebenefits, while a Medigap policy only supplements your Original Medicare benefits. You pay the private insurance company a monthly Premium for your Medigap policy. … A Medigap policy only covers one person.