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Medicare Supplement Insurance

As a person insured with Medicare, you have the right and opportunity to be covered by Medicare Supplement insurance. Medicare Supplements are insurance policies that help you cover the deductibles and co-insurance with Parts A & B. These costs are known as the "gaps" in Medicare. Supplements are the missing puzzle piece for financial security and better access to quality care. 

Benefits

Makes life easier by having low or no out of pocket medical bills.

Better access to quality healthcare by reducing your financial burden.

Can help you have physical, mental, and financial well being.

Remember, Medicare A & B by itself does not set annual limits on your out of pocket medical bills. This is the #1 reason to have a Medicare Supplement or an Advantage Plan.

Medicare Supplements - 5 Things To Know 

  1. Medicare Supplement plans are provided by various private insurance companies. Each plan is represented by a letter, which means certain standard coverage. The coverage for each letter plan is the same at each insurance company that offers it. The rates each insurer charges can differ.

  2. When you have a Medicare Supplement policy it is secondary to Medicare A & B. Medicare determines what is covered and pays first. Your Medicare Supplement plan pays second and covers whatever Medicare covers. Medicare Supplements do not determine what is covered, Medicare does.

  3. Medicare Supplements cover you at any doctor or medical provider in the country that accepts Medicare A & B. Standard Medicare Supplement plans do not have doctor networks that you must stay in. If your doctors and providers accept Medicare they should also accept your Medicare Supplement, regardless of the insurance provider.

  4. Once you have a Medicare Supplement policy it is guaranteed to renew each year as long as you pay your premium. Your policy can never be canceled based on your age, health, or claims history.

  5. The monthly cost for your plan can vary based on factors such as your zip code, age, tobacco status, and the insurance provider. The monthly premium you pay is never based on your individual health or claims history.

Top Medicare Supplement Plans 

There are 11 lettered Medicare Supplement plans listed by Medicare, but 3 are the most popular. This is for 2 reasons; 1. Many of the plans that are listed are older and no longer available. 2. The most popular plans usually offer the best combination of benefits and monthly premiums.  

As mentioned earlier, Medicare Supplement plans help you cover out of pocket costs under parts A & B.  These are the deductibles, copays, and coinsurance that you would normally have to pay when receiving care. The Medicare Supplement Comparison Chart below lists the most common out of pocket costs with parts A and B. The      represents whether the particular letter supplemental plan covers that cost for you.  Summarizes other important information about the plan such as; Your annual out of pocket maximum, sample monthly cost, and who the plan is best for.

More Coverage

Less Coverage

Those who want the most coverage & willing to pay a higher premium. Plan F covers all deductibles and co-insurance so you have $0 liability.

Those who want the most coverage & a value rate. Plan G has a lower cost than Plan F and covers everything but the annual Part B deductible, which is $185 in 2019.

Those who want a low rate plan that covers the larger possible out of pocket costs. Willing to take on some additional copays and other out of pocket costs

Part A Hospital Deductible    

Part A Hospital Copays  

Part A Reserve Days

Part A Skilled Nursing Copays

Part A Hospice Care

Part B Deductible

Part B 20% Coinsurance

Part B Excess Charges

Limited Worldwide Emergency    

Covered Medicare Costs

Annual Medical Out Of Pocket:            (The annaul maximum you are       responsible for as a patient for Medicare A & B services) 

$0 deductible, $0 copays, $0 out of pocket

$198 deductible

 $0 copays or co-insurance after

 $198 deductible

 $20 doctor copay

 $50 ER copay

Plan N

Plan G

This Plan Is Good For:

Plan F

Plan F

Until recent years, Plan F has traditionally been the most popular Medicare Supplement. Plan F provides the most coverage by paying 100% of deductibles and co-insurance under parts A & B. When you have a Plan F policy, you have zero out of pocket expenses as a patient for services covered under Medicare A & B. Please note that Plan F will no longer be available for those starting Medicare beginning January 1st, 2020.

Plan G

Currently the most popular Medicare Supplement Plan available. Plan G gives you the best of both worlds; A simple plan with low annual out of pocket and a more reasonable monthly premium than Plan F.  Plan G Covers all gaps in Medicare except the annual Part B deductible. So, if you have a Plan G policy, the Part B deductible is the only medical cost you are liable for. You have no copay's or co-insurance after the deductible, which is $198 in 2020.  

Plan N

Plan N is the best, low premium, Medicare Supplement. Plan N coverage is similar to Plan G except you are taking on a couple more out of pocket costs. Plan N covers all gaps in Medicare except the following;

  • The annual Medicare Part B deductible, which is $198 in 2020.

  • In addition to the deductible, you pay a $20 copay for doctors office visits and a $50 copay for the emergency room (if admitted to hospital, no copay).

  • Plan N does not cover "Part B Excess Charges." This is a situation where a doctor bills over Medicare's acceptable fee schedule. Ask us for more details.

If you have a Plan N policy, the list above is what you can expect to pay out of pocket for medical care. Plan N covers the major stuff, such as hospital deductibles, copay's, and the Part B 20% co-insurance.

Disclaimer

  • Medicare Supplement plans provide coverage for Medicare A & B covered services only.

  • Medicare Supplement premiums are in addition to your premium for Medicare Part B.

  • Coverage and rates are not guaranteed and are subject to eligibility and underwriting approval at the time of the application.

  • The information above summarizes Medicare Supplement benefits for educational purposes. Please refer to the full outline of coverage or your insurance policy for detailed coverage information.

  • Part B Excess Charges are when a doctor bills over Medicare's schedule of fees for service. Your agent can provide you with more details.

Request a free, personalized plan comparison. Get details on plans in your area, including how they cover your medical, prescriptions, & doctors.

Recommended Next Section: Medicare Advantage Part C

About Your Agent

Throughout his career as a Licensed Insurance Agent, Ben Rodriguez has helped hundreds of Medicare recipients.  Since obtaining his degree in Business Finance from Kent State University, Ben has acquired nearly 15 years of experience in financial services and insurance.  Having a close relationship with his parents and grandparents has made him especially in tune to the needs of boomers and seniors.  Ben is known for his professionalism with a personal touch that he brings to each of his clients.

Ben Rodriguez

Owner | Manager

Licensed Insurance Agent 

Call, text, or email 7 days a week for information, quotes, and questions

512-537-7847 direct

About Us

We are an independent insurance agency that hundreds of Texans trust & rely on for their Medicare benefits. We specialize in Medicare Supplements, Medicare Advantage (Part C), Part D, and Dental & Vision plans. Our service is designed to be a one stop shop to make it easy for you to get your best value coverage. We are based in Austin, TX and offer plans in the entire state. Our services are provided to you conveniently by phone & online. 

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