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Medicare Supplement Insurance

If you’re turning 65 soon, you’re probably thinking about Medicare and Medicare Supplement Insurance.  You’re likely wondering how you can possibly afford both Medicare premiums plus premiums for a Medicare Supplement Insurance policy.

To decide if you’re going to need help to fill the gap in coverage that’s left after Medicare pays 80% of your medical bills, your first step should be to learn some basic facts about what Medicare and Medicare Supplement Insurance policies cover.

          What Medicare Pays For:

Original Medicare Part A is hospital coverage that pays for:

  • Inpatient hospital services
  • Skilled nursing facility care (after a hospital stay)
  • Home health care
  • Hospice Care
  • All but the first 3 pints of blood you receive per calendar year

Original Medicare Part B is medical coverage and pays for:

  • Medical expenses
  • Home health care
  • Clinical laboratory services
  • Outpatient treatment
  • Durable medical equipment and supplies
  • Preventive health care including exams, screenings and shots

Original Medicare Part D is prescription drug coverage and pays for generic and brand-name prescription drugs.

The chart below shows basic information about the different benefits that
Medicare Supplement Plans cover for 2019. 
If a percentage appears, the Medicare Supplement Plans
covers that percentage of the benefit, and you’re responsible for the rest.

There are 10 different Medicare Supplement Plans
Plans A, B, C, D, F*, G, K, L, M, N

Medicare-Supplement-(Medigap)-Insurance-Plans-A-F-2018

Medicare-Supplement-(Medigap)-Insurance-Plans-G-N-2018

* Plan F also offers a “high-deductible” plan in some states. If you choose this option, this means you must pay for Medicare-covered costs (coinsurance, copayments, and deductibles) up to the deductible amount of $2,300 in 2019 before your police pays anything.
** Plans K and L have an annual out of pocket limit. For 2019, those amounts are $5560 (K) and $2780 (L). Once you meet that amount, in addition to meeting your Medicare Part B deductible ($185/year for 2019), the plan pays 100% of covered services for the rest of the calendar year.
*** 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.

If you live in one of these 3 states, Medigap policies are standardized in a different way
Massachusetts, Minnesota, or Wisconsin

What Medicare Doesn’t Pay For:

  • Custodial care
  • More than 100 days of skilled nursing home care following a hospital stay
  • Homemakers services
  • Private-duty nursing care
  • Dental cleanings, fillings, extractions and dentures
  • Medical care while traveling outside the U.S.
  • Cosmetic surgery
  • Preventive care of the feet
  • Eye exams and glasses
  • Hearing exams and hearing aids
  • We have plans to cover these though!