Vance Insurance Group
Medicare Supplement
Medicare Supplement (Medigap)
When it comes to Medicare, one size definitely doesn't fit all. What works for your neighbor may not be the best fit for you. Vance Insurance Group is here to help you understand your needs, explain your options and make Medicare as simple as possible to understand.
Medicare Supplement Insurance (Medigap)
Medigap plans can help pay some of the out-of-pocket costs not covered by parts a & B
All medigap plans include full or partial coverage for:
- Part A hospital coinsurance
- Part B coinsurance or copays
- Cost of blood transfusions (first 3 pints)
- Costs for 365 extra hospital days
- Hospice care coinsurance
Some may also help pay for:
- Part A deductible
- Part B deductive*
- Cost of foreign travel emergency care up to plans limits
- Part B excess charges
- Part A skilled nursing facility care coinsurance
When to enroll
You can request enrollment in a Medigap plan at any time, but you may be denied coverage or charged more based on your health history if you enroll after your Medicare Supplement Open Enrollment Period.
*Not available to those newly eligible in 2020 or beyond
Medigap plans are offered by private insurance companies but are standardized by the federal government.
Each plan is labeled with a letter, and all plans with the same letter offer the same benefits nationwide. However, Massachusetts, Minnesota and Wisconsin standardize plans differently.
Some Medigap insurers offer value-added services
Medigap insurers may make value-added services available either free or on a discounted basis. These services may come from the insurer or other companies.
Medigap costs
Premium
Medigap plans set their own premiums, though as a general rule, the more generous the coverage, the higher the premium. Premiums will also vary by provider.
Different plans will pay differently for various health care services and items
The level of coverage and what you will pay varies by plan.
Some plans split certain costs with you up to set limit. Others leave certain costs for you to pay on your own. Refer to the chart on the next page to understand how each Medigap plan will cover out-of-pocket costs.
Some things that are offered may include:
Discounts on vision, hearing, or dental services
24 hour nurse phone lines
Some Medigap plans offer free or discounted gym memberships
Medicare supplement (medigap) Plans
Once enrolled in Original Medicare, you can also choose to add on a Medicare Supplement (Medigap) plan. These plans are designed to fill the gap and provide coveragefor the costs that Original Medicare will not cover. However, keep in mind that youwill not be able to have a medigap plan or Medicare plan at the same time!
There are ten Medigap plans available, with the exception of plan C and F only being available to those who were eligible for Medicare before January 1, 2020.
Learn more with the Medicare experts
At Vance Insurance Group, our mission is to provide you with all the information you need so you can make an educated decision on the Medicare coverage that is right for you. To learn more about your Medicare options and how we can help you secure the right coverage, give us a call today!
Contact Us
Location:
1200 S Horner Blvd #5046, Sanford NC 27331
Support:
info@vigrp.com
* All information provide will remain confidential.
