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Medicare Supplements

Medicare supplements, also known as Medigap plans, fill in the gaps of Original Medicare Part A & B. This is necessary because Part A & B don’t even cover 80%, but more importantly, they don’t offer a limit on the out-of-pocket costs that you may incur. Paying 20% of a small doctor bill isn’t going to break the bank, but 20% of a large hospital likely will. Therefore, many Medicare beneficiaries will select a Medicare Supplement plan to act as their secondary insurance with Original Medicare as the primary coverage.

Medicare Supplements offer the following:

Federally Standardized
The government requires that a Plan G offered by one company must be exactly the same coverage as Plan G offered by any other company. The only difference is the price of the plan, the stability of that price, and the experience of doing business with that company. Don’t be fooled by pretty logos into paying more for identical coverage, but don’t just choose the cheapest company either because you may not be able to change in the future if your health doesn’t qualify.

No Networks
When you have a Medicare Supplement plan as your secondary insurance, you do not have to worry about networks or getting referrals like you do on Medicare Advantage plans. Since Original Medicare Part A & B is still your primary insurance. Your Supplement plan will be accepted at ANY doctor who accepts Medicare. This is very cut and dry. No doctor/hospital is allowed to accept Medicare but chose to accept one Supplement over any other. Since upwards of 90% of doctors/hospitals in our country do accept Medicare, this gives you tons of freedom to see the doctors you want to see whether they are in Indiana or Florida.