Medicare Doesn’t Cover Everything

Medicare supplements sometimes referred to as Medigap plans pay health care costs that Medicare does not cover (deductibles, coinsurance, and co-payments). If you don’t have a Supplement and have to go into the hospital, you are responsible for paying the Part A hospital deductible of $1,364.  Medicare Part B only covers 80% of the cost for your doctor office visits and outpatient medical services. Without a Medicare Supplement, you have to pay the other 20%, and Medicare does not put a cap on your out-of-pocket cost. That is why it is essential to enroll in a Medicare supplement to keep your cost low and predictable. Treatment of severe illnesses such as cancer, kidney failure or chronic health conditions such as diabetes can leave you responsible for thousands of dollars in medical bills and without a Supplement the money you have set aside for your retirement could quickly be wiped out. Most people as they get older need to use more and more health care services.

With most Medicare Supplements offered in Alabama, you have the freedom to go to any doctor or hospital in the United States that accepts Medicare patients. You can see specialists without a referral, and your coverage goes with you when you travel anywhere in the United States. Medicare supplements do not cover prescription drugs, so you’ll need to enroll in a Medicare Part D Prescription Drug Plan. To apply for a Medicare supplement, your Medicare Part A and Part B must be active.

Medicare Supplement Plans F, G & N

With Medicare Supplement Plan F you have no out-of-pocket cost for an inpatient hospital stay or doctor office visits. The only difference between a Plan F and a Plan G is that Plan G does not pay the annual Medicare Part B deductible of $185 (that is the only difference). Plan F will not be available to anyone enrolling in Medicare starting in 2020. With Plan N you have no out-of-pocket cost for an inpatient hospital stay, but like Plan G, you are responsible for the annual Part B deductible of $185. Plan N has a lower monthly premium than Plan F and Plan G because it has a co-pay that can never exceed $20 for a doctor office exam. It also has a $50 co-pay if you visit an Emergency Room and you’re not admitted.

Don’t Miss This Opportunity

The best time to enroll in a Medicare supplement is during your Open Enrollment Period. When you first activate your Medicare Part B at age 65 or older, you have a six month period to enroll in any Medicare supplement plan offered in Alabama without having to answer health questions. Your acceptance is guaranteed, and pre-existing health conditions receive full coverage immediately. You only get one open enrollment period in Alabama to purchase a Medicare supplement. Once your open enrollment period is over, you can apply for a Medicare supplement later, at any time but you must answer all health questions and could be denied coverage because of pre-existing health conditions. Take advantage of your Medicare Supplement Open Enrollment Period where health conditions won’t matter then or in the future. Call me with any questions you have about Medicare and get expert advice at no cost or obligation.