We are partnered with several insurance carriers that offer Medicare Supplement insurance that will bridge the gap of your Medicare plan. Supplements may cover what Original Medicare doesn’t in hospital and medical services and also with co-payments, coinsurance, deductibles.
Medicare Supplement FAQs
When should I buy a Medicare Supplement (Medigap)?
The best time to buy a Medigap policy is during your 6-month Medigap open enrollment period because you can buy any Medigap policy, even if you have health problems. This period automatically starts the month you’re 65 and enrolled in Medicare Part B, and once it’s over, you can’t get it again.
What is Medicare Supplement Insurance?
Medicare Supplement Insurance is a private health insurance policy designed to help pay some or all of the costs that are not covered by Medicare Parts A and B.
Does Medicare Supplement Coverage IncludePrescriptionn Drug Benefits?
No, Medicare Supplement is designed to fill in the “gaps” with Medicare Plans such as Part A (which covers hospital and skilled nursing facility care) and Part B (which covers doctor bills and other medical expenses). For prescription drug coverage, you can select a separate Medicare Part D Prescription Drug Plan.
Does Everyone Need a Medicare Supplement Policy?
Not everyone needs a Medicare supplement policy. If you have certain other types of health coverage, the gaps in your Medicare coverage may already be covered. You probably don’t need Medicare supplement insurance if:
- you belong to a Medicare Advantage plan
- Medicaid or the Qualified Medicare Beneficiary (QMB) Program pays your Medicare premiums and other out-of-pocket costs.
- You are covered under an employer group health plan
Will I Need to Switch Doctors if I Enroll in a Medicare Supplement Plan?
No, you may continue to see your own doctor. Medicare Supplement plans are convenient and flexible, giving you freedom of choice.
What if I (or my Spouse) Plan to Work After Age 65 and Continue Receiving Group Health Care Benefits?
Check with your group plan administrator. You may be able to choose either your group plan or Medicare plus Medicare Supplement coverage. If you stay with your group health care plan, a Special Enrollment Period lets you delay purchasing Part B until you need it.
Medicare Part A
- Hospital care
- Skilled nursing facility care
- Nursing home care
- Home health services
Medicare Part B
- Clinical research
- Ambulance services
- Durable medical equipment (DME)
- Mental health
- Second opinion before undergoing surgery
- Limited outpatient prescription drugs
Medicare Part C
- Also known as Medicare Advantage. If you qualify for or are already enrolled in Original Medicare, you are eligible for Medicare Advantage. Medicare The provide both Medicare Part A and Part B coverage (hospital and medical benefits).
Medicare Part D
- Only prescription drugs only
- May also be included as a part of a Medicare Advantage plan.
Medicare Supplement Fast Facts
Fact: All Medicare Supplements are the same. The only difference between companies is usually price. Example: A Plan F from Company A is the same as Plan F from Company B.
Fact: An agent cannot change your plan unless 1) you are getting the same plan for less money or 2) you are upgrading your plan.
Fact: If you have a Medicare Advantage Plan, it’s illegal for anyone to sell you a Medigap policy unless you’re switching back to Original Medicare. Contact your State Insurance Department if this happens to you.
To learn more about Medicare and how to enroll, you may reference www.mediare.gov or call 1-800-MEDICARE (1-800-633-4227). You can also reach out to Bell & Associates Consulting Firm for help at (662) 260-4635 or via our Request a Quote form.