Co-Founder, TermInsuranceBrokers.com, Goldenzweig Financial Group, Las Vegas, Nevada
Original Medicare (Parts A & B) covers appoximately 80% of your healthcare expenses. Medicare supplements (or commonly referred to as Medigap) plans help provide coverage for the other 20%.
There are 9 benefits available in Medigap plans:
1) Medicare Part A coinsurance and hospital costs up to an additional 365 days after Medicare benefits are used up
2) Medicare Part B coinsurance or copayment
3) First 3 pints of blood
4) Part A hospice care coinsurance or copayment
5) Skilled nursing facility care coinsurance
6) Medicare Part A deductible
7) Medicare Part B deductible
8) Medicare Part B excess charges
9) Foreign travel emergency (up to limits as cited in the plans)
Each plan provides a percentage of coverage for the first 4 benefits. From there, each plan features some or all of the other 5 benefits. Plan F is the most comprehensive benefit as it covers all 9 benefits at 100%. Plan G is almost identical as it covers 8 benefits at 100% (the one it doesn't cover is the Part B deductible. Plan N is also very competitive - as long as your primary care doctor accepts Medicare and assignment, your only other payment other than your premium would be the Part B deductible ($147 in 2014) and a copay at the doctor's office (up to $20 per visit) or hospital (up to $50 per visit).
I highly recommend downloading a copy of the Medigap guidebook on the Medicare.gov website - the guidebook is titled "Choosing a Medigap Policy: A Guide to Health Insurance for People with Medicare." Agents will have this on hand as well - it's required to be given to the proposed insured if they decide to apply for a plan. You can send me a private message if you'd like me to e-mail it to you.
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There are 9 benefits available in Medigap plans:
1) Medicare Part A coinsurance and hospital costs up to an additional 365 days after Medicare benefits are used up
2) Medicare Part B coinsurance or copayment
3) First 3 pints of blood
4) Part A hospice care coinsurance or copayment
5) Skilled nursing facility care coinsurance
6) Medicare Part A deductible
7) Medicare Part B deductible
8) Medicare Part B excess charges
9) Foreign travel emergency (up to limits as cited in the plans)
Each plan provides a percentage of coverage for the first 4 benefits. From there, each plan features some or all of the other 5 benefits. Plan F is the most comprehensive benefit as it covers all 9 benefits at 100%. Plan G is almost identical as it covers 8 benefits at 100% (the one it doesn't cover is the Part B deductible. Plan N is also very competitive - as long as your primary care doctor accepts Medicare and assignment, your only other payment other than your premium would be the Part B deductible ($147 in 2014) and a copay at the doctor's office (up to $20 per visit) or hospital (up to $50 per visit).
I highly recommend downloading a copy of the Medigap guidebook on the Medicare.gov website - the guidebook is titled "Choosing a Medigap Policy: A Guide to Health Insurance for People with Medicare." Agents will have this on hand as well - it's required to be given to the proposed insured if they decide to apply for a plan. You can send me a private message if you'd like me to e-mail it to you.