Medicare Supplements

Medicare Supplements

Senior couple in discussing there Medicare Supplements that can be offered by Texas Medicare Advisors

There are 10 different Medicare supplements—plans A, B, C, D, F, G, K, L, M, and N. Each offers its own variety of benefits at relative costs for personalized coverage.

Supplement (or Medigap) plans take care of the many out-of-pocket costs you face with Original Medicare. On its own, Parts A and B offer decent, low-cost coverage, but they certainly don’t cover everything.

Besides Medigap, your other additional options include Medicare Advantage and Part D. Unlike Medicare Advantage, which is a full alternative to Original Medicare that includes all of its coverage in a newly structured plan with some additional benefits, supplements are, as the name implies, a “supplement.”

Medigap is an addition rather than an alternative. This, however, does not mean that you will be paying more—in fact, you will be saving a significant amount on Original Medicare with a supplement plan.

Saving Money
With Medigap

All supplement plans offer this coverage:

  • Part A Coinsurance & Hospital Costs
  • Part B Coinsurance or Copayment
  • First 3 Pints of Blood for Transfusions
  • Part A Hospice Care Coinsurance or Copayment

 

This is the most basic of the supplement plans, Plan A. All 10 options offer these minimal benefits. As more benefits are added, the more it will cost on a monthly basis. However, even as your monthly cost increases, you will still be saving a significant amount on your Original Medicare coverage.

Deciding On A
Supplement Plan

This is where your decision on a plan becomes important. Yes, you will pay a higher monthly premium for more coverage, but you will also be paying much less out-of-pocket for the healthcare you receive.

Some plans, like Plan K, offers a percentage of benefits to lower your monthly costs:

  • 100% of Part A Coinsurance and Hospital Costs
  • 50% of Part B Coinsurance/Copayment
  • 50% of the First 3 Pints of Blood for Transfusions
  • 50% of Part A Hospice Care Coinsurance or Copayment
  • 50% of Skilled Nursing Care Facility Coinsurance
  • 50% of the Part A Deductible

 

This way, you know that you are still getting coverage with only half of the full cost coming out of your wallet.

Other plans, like Plan F, offer the fullest possible coverage at a higher monthly cost:

  • Part A Coinsurance & Hospital Costs
  • Part B Coinsurance/Copayment
  • First 3 Pints of Blood for Transfusions
  • Part A Hospice Care Coinsurance/Copayment
  • Skilled Nursing Care Facility Coinsurance
  • Part A Deductible
  • Part B Deductible
  • Part B Excess Charges
  • 80% of Foreign Travel Emergency Care

 

No matter which plan you choose, you will save a lot of money on your Original Medicare coverage. Check out our Medicare Supplement Plan Comparison to review your full options and choose a supplement that works best for you.

Enrolling In A
Supplement Plan

If you have chosen a supplement plan, your next step is to enroll. The best time to do so is during your Medigap General Enrollment Period (GEP).

During the 7 months following your 65th birthday, you can enroll in any Medigap plan without fear of being turned away due to your health. After the GEP, however, you may no longer be eligible if you have a medical condition.

We typically advise, then, that you enroll in one as soon as you are able.

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Still unsure if a supplement plan is right for you? Or having trouble choosing a plan? We can help. We’re Medicare experts with your health and budget in mind. If you have any questions about your insurance, call the Texas Medicare Advisors at 512-900-3008.

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Choosing Your
Medicare Coverage?


Medicare Supplements

Senior couple in discussing there Medicare Supplements that can be offered by Texas Medicare Advisors

There are 10 different Medicare supplements—plans A, B, C, D, F, G, K, L, M, and N. Each offers its own variety of benefits at relative costs for personalized coverage.

Supplement (or Medigap) plans take care of the many out-of-pocket costs you face with Original Medicare. On its own, Parts A and B offer decent, low-cost coverage, but they certainly don’t cover everything.

Besides Medigap, your other additional options include Medicare Advantage and Part D. Unlike Medicare Advantage, which is a full alternative to Original Medicare that includes all of its coverage in a newly structured plan with some additional benefits, supplements are, as the name implies, a “supplement.”

Medigap is an addition rather than an alternative. This, however, does not mean that you will be paying more—in fact, you will be saving a significant amount on Original Medicare with a supplement plan.

Saving Money with Medigap​

All supplement plans offer this coverage:

This is the most basic of the supplement plans, Plan A. All 10 options offer these minimal benefits. As more benefits are added, the more it will cost on a monthly basis. However, even as your monthly cost increases, you will still be saving a significant amount on your Original Medicare coverage.

Deciding on a Supplement Plan​

This is where your decision on a plan becomes important. Yes, you will pay a higher monthly premium for more coverage, but you will also be paying much less out-of-pocket for the healthcare you receive.

Some plans, like Plan K, offers a percentage of benefits to lower your monthly costs:

This way, you know that you are still getting coverage with only half of the full cost coming out of your wallet.

Other plans, like Plan F, offer the fullest possible coverage at a higher monthly cost:

No matter which plan you choose, you will save a lot of money on your Original Medicare coverage. Check out our Medicare Supplement Plan Comparison to review your full options and choose a supplement that works best for you.

Enrolling in a Supplement Plan​

If you have chosen a supplement plan, your next step is to enroll. The best time to do so is during your Medigap General Enrollment Period (GEP).

During the 7 months following your 65th birthday, you can enroll in any Medigap plan without fear of being turned away due to your health. After the GEP, however, you may no longer be eligible if you have a medical condition.

We typically advise, then, that you enroll in one as soon as you are able.

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