Alabama Medicare Supplements
Medicare Supplements, sometimes referred to as Medigap, pay health care costs that Medicare does not cover (deductibles, coinsurance, and co-payments).
Medicare Supplements Reduce or Eliminate Your Out-of-Pocket Costs
Medicare (Part A) Hospital has a deductible, coinsurance, and copayments for inpatient care at a hospital or skilled nursing facility. Medicare Supplements cover the hospital deductible of $1,484, the daily copays, and coinsurance. With a Medicare Supplement, you can go to any hospital that accepts Medicare patients, and almost all hospitals accept Medicare.
Medicare (Part B) Medical only covers 80% of Medicare-approved amounts. Medicare Supplements cover the other 20%. If you don’t have a Medicare Supplement, you will pay 20% for all of your doctor visits, lab work, X-rays, and costly diagnostic tests such as an MRI or CT scan. You will have to pay 20% for expensive treatments like radiation and chemotherapy, kidney dialysis, and outpatient surgery. Medicare Supplements will reduce or eliminate your out-of-pocket costs. Medical bills for severe and chronic illnesses can ruin you financially if you don’t have a Medicare Supplement. It could quickly wipe out the money you have set aside for your retirement. You can see any doctor in the United States that accepts Medicare patients (96 percent do accept Medicare), and you are fully covered when you travel anywhere in the U.S. To apply for a Medicare Supplement, you must register for Medicare Part A and Part B.
Medicare Supplements: Plans F, G & N
Medicare Supplement Plan F is the most comprehensive plan. It covers Medicare deductibles and all copays and coinsurance. You have no out-of-pocket cost for Medicare-approved services, whether it’s an inpatient hospital stay or outpatient medical services and treatments, which includes doctor office visits. Medicare Supplement Plan F will not be available to anyone enrolling in Medicare for the first time starting January 1, 2020. If you were eligible for Medicare before January 1, 2020, but delayed enrollment, you may still have the option to buy Plan F when you do choose to enroll. Before you enroll in a Plan F, compare the benefits and premium to a Plan G.
Medicare Supplement Plan G is the second most comprehensive plan that Medicare offers.
- With this Medicare Supplement, your cost is $0 for a Medicare-approved inpatient stay at a hospital or skilled nursing facility. Plan G covers the hospital deductible, copays, and coinsurance.
- For Medicare Part B medical expenses (doctor’s office visits and outpatient medical services and treatments), Plan G covers all but the Part B deductible of $203. After the deductible is met, Medicare pays 80%, and Plan G covers the other 20%.
- You have the freedom to go to any doctor or hospital of your choice that accepts Medicare patients and can see specialists without a referral. You will be fully covered when traveling anywhere in the U.S. The only difference between Medicare Supplement Plans F and G is that Plan F pays the Medicare deductible of $203.
Medicare Supplement Plan N offers a lower monthly premium if you are comfortable paying a small copay for a doctor’s office exam.
- With this Medicare Supplement, your cost is $0 for a Medicare-approved inpatient stay at a hospital or skilled nursing facility. Plan N covers the hospital deductible, copays, and coinsurance.
- For Part B medical expenses, you are responsible for the deductible of $203. In exchange for a lower monthly premium, Plan N has a small copay of $20 for a doctor’s office exam (primary care or specialist) and a $50 copay for an Emergency Room visit (no copay if admitted into the hospital from the E.R.). After the deductible is met, Medicare covers 80% of your costs, and Plan N will cover the other 20%.
- You can go to any doctor or hospital of your choice that accepts Medicare patients and can see specialists without a referral. You are fully covered when traveling anywhere in the U.S.
How Do I Compare Medicare Supplement Plans?
The chart below shows basic information about the different benefits that Medicare Supplement Insurance (Medigap) plans cover for 2021. When the percentage is less than 100% for the Medigap plan; you are responsible for the rest.
*Plan N pays 100% of the Part B coinsurance. There is a copayment of up to $20 for some office visits and up to a $50 copayment for emergency room visits that don’t result in an inpatient hospital admission.
This chart is provided by the Centers for Medicare and Medicaid Services 2021 handbook.
Will My Doctor Accept My Medicare Supplement?
The answer to this question is whether your doctor accepts Medicare. If a doctor or hospital accepts Medicare, they will also take your Medicare Supplement, regardless of which company provides the coverage. If a doctor won’t accept a Medicare Supplement Plan, it is most likely due to the person at the doctor’s office mistakingly thinking you have a Medicare Advantage plan instead of a Medicare Supplement plan. Medicare Advantage Plans have their own networks and are usually PPOs or HMOs. Explain to the person at the doctor’s office that your primary insurance is Medicare, and your supplemental coverage is with ________ insurance company.
Don’t Miss This Opportunity
The best time to enroll in a Medicare Supplement is during your Open Enrollment Period. When you first enroll in Medicare Part B at age 65 or older, you have six months to enroll in any Medicare Supplement without answering any health questions. Your acceptance is guaranteed, and pre-existing health conditions receive full coverage immediately. When your Open Enrollment Period ends, you can apply for a Medicare Supplement later at any time, but you will have to answer all health questions on the application. The insurance company could decline your application if you answer yes to any of the health questions. In other words, you have a pre-existing health condition the insurance company does not want to cover. You only get one opportunity to enroll in a Medicare Supplement without having to go through medical underwriting. Don’t miss this one opportunity to enroll in any Medicare Supplement plan of your choice regardless of health conditions. Get expert advice at no cost or obligation. Call me today at 205-290-8648 and let me help you find the right Medicare Supplement plan.