Medicare Supplements

Medicare Supplements and Drug plans.
The basis for Senior Health care in America.

In 1965, Medicare became available to to those eligible.

Since Medicare only paid 80% plus having various Deductibles.

That left the enrollee to pay the remaining amount.

Medicare Supplements were created to provide 100% coverage for illness’. Since then, various plans with various benefits have been added and deleted. Most common recently was Plan “F”. Plan “F”, however, is no longer available

All plans require you to have Parts “A & B”.

Medicare does not provide for any Drugs outside of a Hospital Setting To cover that, a Part “D” is needed. Part D is covered below on this page

Part “C” covers the Advantage Plans. Part C plans and information are covered on the next page.

Medicare

The Medicare Supplement is desired for its flexibility. This allows you to use it anywhere that Medicare is accepted. Plus, there are no restrictions for Dr’s or other medical providers that accept Medicare. For this convenience, there is a monthly cost. On average, the Supplement PLUS a Drug plan will average about $200/ month in central Fl. Your age, gender and location will determine the cost.

There are three items to remember:

• Medicare does not include any drug benefits.

• Medicare does not cover any Long Term Care.

• Medicare provides for Health matters only.

Because the Supplements only provide Medical Benefits and no Drug coverage. Many are now looking to the Medicare Advantage plans to provide extended coverage and benefits.

Medicare Plans

Medicare offers 8 plans to choose from

A, B, G, G(+Select), K, L, N, N(+Select)

The G & N Select have restrictions and are seldom used.

Of the remaining 6 plans, Plans G & N are most commonly purchased.

The reason is the cost difference is minimal to purchase other plans.

In use, you really need to select between Plans G or N.

Plan N offers slightly more cost savings over Plan G.

Keeping it simple.

As mentioned before,
Medicare and the Supplements, only provide Medical Care

Drug Plans,

Part D

To have 100% coverage,

You will need a Drug plan.

Drug plans are not sold by Medicare. They, like Supplements, are sold by Insurance companies.

The Medicare rules, however, are “Interesting“. This is important. While you are not required to have any Drug plan. If you do not have “Credible Coverage“, as defined by Medicare, and later choose to obtain a Drug Plan. You will receive a penalty for not having had one from the date you became eligible for Medicare. This penalty will last forever.

This can be covered in more detail during a conversation with us.