What Is a Medicare Supplement Plan?
Medicare supplement plans, or Medigap plans, are designed to cover your portion of Medicare costs. For example, Medicare alone will pay 80% of your medical costs (after you meet your deductibles), leaving you with a financial obligation of 20%. This could prove costly. Medigap plans to pay that 20%. In return, you pay a monthly premium to the supplement plan carrier. Supplement plans DO NOT provide any additional coverage to Medicare. They only pay the leftover cost. You still would have to purchase a Part D Drug Plan.
Medicare supplement plans usually run on average $100 or more a month, not including a roughly $30 monthly Part D Plan Premium.
The benefit of a supplement plan is that Medicare would still be your primary insurance carrier, and you can see any doctor that accepts Medicare, anytime. There is NO network. And also you will have no copays or any out-of-pocket costs when seeing a doctor or being admitted to a hospital. Your Medicare and supplemental plan pay ALL covered costs. You just pay your monthly premium.
Why Do You Need a Medicare Supplement Plan?
A Medicare Supplement Plan, also known as Medigap, is essential for individuals who have Original Medicare (Part A and Part B) and want to fill the gaps in coverage. Original Medicare covers many healthcare expenses, but it doesn’t cover everything. Medicare Supplement Plans help cover the out-of-pocket costs you would otherwise be responsible for, such as deductibles, copayments, and coinsurance.
Having a Medicare Supplement Plan provides you with financial protection and peace of mind. It ensures you can access the healthcare services you need without worrying about high out-of-pocket expenses. With a Medicare Supplement Plan, you can freely choose your doctors and hospitals that accept Medicare without being limited to a network of providers.
Additionally, Medicare Supplement Plans offer standardized coverage options, making it easier to compare and select the plan that best suits your needs. These plans are renewable and guaranteed, meaning you can keep your coverage as long as you pay your premiums. A Medicare Supplement Plan provides valuable additional coverage to enhance your overall healthcare benefits.
How Can Porter Insurance Professionals Help?
Porter Insurance Professionals specializes in helping individuals navigate the complexities of Medicare Supplement Plans. We can assist you in understanding the different plan options available, their coverage benefits, and associated costs.
Our team will work closely with you to assess your healthcare needs, budget, and preferences. Based on this information, we will provide personalized recommendations on the most suitable Medicare Supplement Plan for you. We will compare plans from different insurance carriers, considering factors like coverage, cost, and customer satisfaction ratings.
We will guide you through the enrollment process, ensuring you have a clear understanding of the required paperwork and deadlines. We will be there to address any questions or concerns you may have and provide ongoing support throughout your coverage period.
Contact Us
Call us today at 1-844-300-0011 to set up a consultation. You can also reach us here.