MEDICARE SUPPLEMENT PLANS
Expert Guidance for Your Best Fit
Medicare Supplement Plans in Eastern Pennsylvania’s Lehigh Valley and Pocono Regions, as Well as in Central New Jersey.
Medicare insurance is a government-sponsored health insurance program available to most people aged 65 or older and who have paid into Social Security. Medicare is divided into several different sections which offer differing benefits, costs, and options.
Understanding Medicare: A Guide to Part A, Part B, and Medigap Policies
Part A & Part B Explained
Medicare Part A primarily takes care of hospital expenses. Generally, there are no premiums to be paid. However, the recipients are still usually liable for a deductible and could also incur some coinsurance costs depending on the range of medical services they receive over the course of the year.
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Medicare Part B covers the cost of medical treatments which occur outside of hospitals. Alongside costs related to deductibles and coinsurance, Part B also requires a yearly premium that varies based on the beneficiary's earnings and Social Security benefits.
Essential Information on Medicare Supplement Insurance
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Medigap policy is also known as Medicare Supplement insurance.
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Medigap plans are sold by private companies.
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They help pay for healthcare costs or "gaps" not covered by Medicare.
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Beneficiaries use both their Medicare card and Medigap card when visiting a doctor.
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Medigap plans do not have a network, allowing use of any doctor or hospital that accepts Medicare.
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They do not cover prescription drugs; separate stand-alone coverage is needed.
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Medigap is not a Medicare Advantage plan and cannot be used with Medicare Advantage plans.
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Insurance companies can sell only “standardized” policies identified by letters (e.g., A, C, K).
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Medicare plans with the same letter offer the same benefits, regardless of location and company, except in a few states with their own forms.
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While benefits are standardized, premiums can vary.
Important Changes to Medigap Policies: What You Need to Know
As of January 1, 2020, Medigap policies for individuals newly eligible for Medicare will no longer offer coverage for the Part B deductible. As such, Medicare Plans C and F won't be options for those entering Medicare as of January 1st, 2020. However, individuals who are already enrolled in either of these 2 plans, or the high deductible version of Plan F, before January 1, 2020, will retain their coverage.
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Medicare insurance can be quite complicated. But that's where our advisors can help. Please feel free to contact our agents today if you want to discuss your options.
Your Local Independent Medicare Insurance Agents
With a primary office in Bethlehem, PA, we offer comprehensive Medicare Insurance plans to our community in eastern Pennsylvania’s Lehigh Valley (including Allentown, Bethlehem, and Easton), the Pocono region (including Stroudsburg, Wilkes-Barre, and Scranton), and Central New Jersey (including Hackettstown, Clinton, and Flemington).