Medicare Supplements
Medicare Supplement Plans
Medicare Supplement Basics (MediGap)
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To become eligible for a Medigap policy, you must be enrolled in Medicare Part A & Part B.
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Supplements do not have an annual election period, so they can be cancelled at any time.
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Only 1 person per policy as these are individual plans.
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Pre-Existing conditions cannot prevent you from renewing a Medicare supplement plan.
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Drop out of your supplement whenever you want, since they don’t have an annual election period.
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No health condition can keep you from renewing your supplements.
MediGap Plans
Medigap Plan A
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Plan covers 20% on outpatient care.
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For those who qualify for Medigap under the age of 65 due to an illness or disability, this plan can be bought during open enrollment w/o underwriting.
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For those under 65, the cost for the Medigap A plan may be significantly more when compared to an individual who is 65 or older.
Medigap Plan B
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Same coverage of Medicare Plan A
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Will cover Medicare Part A hospital deductible
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The deductible is paid several times in the same year
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Rates vary from insurance company and are based on location, gender, age, household discounts, and if you are a smoker.
Medigap Plan C
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Same coverage as Medigap Plans A & B.
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Medicare excess charges are not covered.
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Excess charges could possibly go over 15% more than what Medicare would pay.
Medigap Plan D
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This plan provides coverage for the gaps in Medicare such as 20% outpatient charges.
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Deductible is not covered.
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Medicare excess charges are not covered.
Medigap Plan F
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All Medicare gaps are covered such as deductibles & copays
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Rates vary by insurance company are are determined location, smoking, age, gender, & household discounts
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There is a High Deductible Plan F as well. Contact us for more info.
Medigap Plan G
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Include the same coverage as Medigap Plan F with the exception of the Part B $183 deductible .
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Hospital expenses while in the hospital are covered. This also included the $1340 deductible.
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This plan also covers a majority of outpatient care, excluding the $183 deductible.
Medigap Plan K
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This plan has lower premiums and increased cost-sharing w/ the insurance company.
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Parts A and B deductibles are not covered but an additional year in the hospital may be covered.
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Covers all the same basic benefits
Medigap Plan L
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Medigap Plan L has reduced premiums for 75% of the medical expenses covered by carrier.
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Medicare Part B deductible & surcharges are not covered.
Medigap Plan M
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Basic Coverage
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Lower monthly premiums
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Full annual outpatient may not be covered. You may also be responsible for half of the hospital deductibles
Medigap Plan N
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Lower monthly premiums
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Covers the 20% Medicare doesn’t including: hospital deductible, copays, & coinsurance
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The cost sharing will become greater to include: $20 of doctor copay & $50 for an Emergency Room visit
For more information on the following:
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Underwriting
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Guaranteed Issue Windows
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OEP (Open Enrollment Period)
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What Is Not Covered by Medigap