Why a
Medicare
Supplement
Plan?
Medicare doesn’t cover 100 percent of health costs in retirement.
You are responsible for deductibles, coinsurance, copayments, and hospital admission charges.
You can lower your financial risk, however. A Medicare supplement plan covers most balances on medical bills that Medicare doesn’t pay for, depending on the plan you choose. So, you get added protection from unexpected bills.
Supplemental
Plan –
Medigap
Medigap is for covering the gap in coverage or cost for any out-of-pocket expenses not covered by Part A and Part B, original Medicare.
Commonly known as Medicare Supplemental Insurance or
Medicare Supplement, Medigap is sold by private
insurance companies.
Differences between Medicare Advantage plans and
Medicare Supplement plans.
Medicare Advantage plans have a regional network of doctors and hospitals. You can go to another doctor,but the best pricing is within the network.
Medicare Supplement plans have a national network of doctors and hospitals. It’s easier to travel or to have a specialist in another area.
A Medicare Advantage plan takes the place of Medicare Parts A and B. Sometimes, an Advantage plan will add coverage – like vision or dental – but they aren’t allowed to add a Medicare Supplement plan.
A Medicare Supplement plan is in addition to the coverage offered by Medicare Parts A and B.
Medicare Advantage plans usually are inexpensive because they offer less coverage than a Medicare Supplement plan. Whatever you choose, you should continue paying your Medicare Part B premium.
Medicare Advantage plans often change their benefits/networks/premiums in January, so it’s important to read all documents sent near the end of the year.
Medicare Supplement plans are regulated, and the basic structure doesn’t change. Plans cannot be canceled if premiums are paid.
With a Medicare Advantage plan, claims decisions are made by the insurance company you have chosen.
With a Medicare Supplement plan, claims flow through the Medicare system first and then go to the Supplement insurance company.
More than costs.
Learn more.
Medicare Supplement and Advantage differ beyond costs – which doctors you can use, travel restrictions, the amount of paperwork and more.
Call us to find the best plan for you.
Medicare Advantage & Part D Quote
Medicare Part A is for hospital coverage.
Part A is premium free for seniors who worked at least 10 years in the United States and paid into Medicare taxes (FICA). Part A covers costs associated with inpatient hospital care, skilled nursing facility treatment, psychiatric care, and hospice care.
Medicare Part B is for doctor coverage.
Part B does have a monthly fee associated with it. Part B helps to cover costs associated with physician and surgeon fees, outpatient services, blood work, ambulance transportation, clinical laboratory services, and more.
Medicare Part C is an “all in one” plan offered by private insurance companies.
It is an alternative to Part A and Part B. You still enroll in through the Federal Government for Part A and Part B benefits and then you enroll in Part C separately with a private insurance company. These are regional plans specific to your geographical area, not national plans.
This will then enable you to get all your benefits through your private Medicare Advantage Plan. Some Advantage Plans will cover dental, medical, and vision, etc…
Medicare Part D is for prescription drug coverage.
Part D can be obtained from a private insurance company. Medicare Part D can be purchased as a separate product, or it can be a part of a Medicare Advantage Plan.
Some Medicare Advantage Plans may include prescription drugs, but not all do.
Please note that the prescription drugs covered will vary from plan to plan.
Original Medicare is coverage managed by the federal
government. Part A and Part B are provided.
Part A
Covers inpatient hospital stays, care in a skilled nursing facility, hospice care, and some home health care. You usually don’t pay a monthly premium for Medicare Part A (Hospital Insurance) coverage if you or your spouse paid Medicare taxes for a certain amount of time while
working. This is sometimes called “premium-free Part A.
Part B
Covers certain doctors’ services, outpatient care, medical supplies, and preventive services. You pay a premium each month for Part B. Your Part B premium will be automatically deducted from your benefit payment if you get benefits from one of these:
- Social Security
- Railroad Retirement Board
- Office of Personnel Management
If you don’t get these benefit payments, you’ll get a bill.
Mintco Financial Medicare 4 Parts – We can help you
We Offer Free Medicare Quotes.
It doesn’t cost anything to get a Medicare quote and there is no obligation to apply!
We Help You Save Time
We help you compare your Medicare options.
Plan Recommendations
We recommend the personalized plan to fit your needs – based on your location, income, affordability, and other factors.