Medicare Supplements

Why Medicare Supplement?

Now that you understand Medicare Part A, Part B and Part D, and you’re enrolled in each, why would you consider purchasing a Medicare Supplement Plan, a/k/a MediGap?

The answer is the “gap” in Parts A and B that becomes your expense without a Supplement Plan. 

Do you recall the explanation of your share of the 2022 Part A expenses? The Benefit Period deductible of $1,556! Skilled Nursing Facility costs of $194.50 for each day you are confined beyond the first 20 days!

Does it concern you that your 20% share of Part B expenses are unlimited, i. e, chemotherapy!

The reason for considering Medicare Supplement is to significantly reduce or eliminate your share of Part A and Part B expenses! 

Which Plan?

Medicare thoughtfully designed 10 Supplement Plans attempting to create affordable options that would meet the budget and protection needs for a wide variety of Seniors. Unfortunately, each of these options can be the source of confusion. Sound familiar? Don’t worry, help is here.

Medicare designed EACH plan, so it doesn’t matter which plan you select- Plan A, B, C, D, F, G, K, L, M, or N- the coverage of the specific plan is exactly the same, regardless of the company that offers the plan. The only difference in each plan is the name of the company offering the plan and the premium the company charges for the plan.

So the deciding factors, as to which plan is best for your circumstances, is which plan combines a monthly premium and benefits (coverage) that makes the plan affordable for you.

I strongly recommend that you meet with an experienced agent before you make a decision as to which might be the best plan for your circumstances. From the lowest premium, lowest benefit plan, to the highest premium, highest benefit plan, there are significant differences to consider. Some of the considerations are not quite as apparent from one plan to the next.

How Does It Work?

Finally, something simple! When you receive medical care, in or out of the hospital, simply present your Medicare ID Card showing proof of Part A and Part B coverage, as well as your Medicare Supplement ID Card. No need to be concerned with Provider Networks, referrals to specialists, or a host of other insurance company “rules”. You get to be a patient, not an insurance plan administrator! And you reduce, or eliminate, your share of expenses not covered by Parts A and B.

As much as I would like to be more detailed about the specific benefits of each different Medicare Supplement plan, there are far too many differences among these plans to make such a discussion meaningful in this space. 

Engage with an agent. If not with me, then someone you trust. Don’t worry. If you don’t choose me I’ll get over it. 

I can be reached at (407)497-6287 or by email at kenbrown@floridamedicarespecialists.com