If you are enrolled in Original Medicare, you may be curious about ways to save money on your health care expenses. Luckily, Medicare Supplements are a great way to reduce health care costs associated with Medicare. To find out more about Medicare Supplements, continue reading.
Medicare is a federal health insurance program that provides benefits to retirement-aged people and younger people with disabilities. The primary Medicare plan is called Original Medicare, and it includes Part A hospital insurance and Part B medical insurance. Both of these coverage components have costs that must be paid by the beneficiary. These costs include deductibles, copayments, coinsurance, and excess charges.
Medicare Supplement Insurance, or Medigap, is a form of insurance that helps pay the out-of-pocket costs associated with Medicare. There are several different plans, each offering a different assortment of benefits.
The Medigap plans include Plan A, B, C, D, F, G, K, L, M, and N as well as HDG replaces HDF. They range from basic coverage to comprehensive coverage. It’s important to note that two of the most comprehensive plans, Plans C and F, are no longer available for anyone who became eligible for Medicare after January 1, 2020. These are the only two Medigap plans that cover the Medicare Part B deductible.
To get a Medigap plan, you must be enrolled in Parts A and B of Medicare. People who have Medicare Advantage cannot purchase these plans.
Medigap plans are sold by private companies that are governed by the Medicare program, signing up with a private broker will give you more options to ask questions. To find a plan, contact an insurance broker from Duncan Market Insurance today!
If you are curious about what Medicare Supplement Plans can offer you, consider speaking to an insurance broker. The professionals at Duncan Market Insurance are ready to help you. Give us a call to get started with a free consultation.