medicare supplement

Medicare Supplement Plans

The Importance of Medicare Supplement Insurance

Medicare and private insurance companies have teamed up to help reduce the out-of-pocket medical expenses that plague many seniors. This coverage is called Medicare Supplement Insurance. There are four parts to Medicare.

Part A = Hospital Insurance (Inpatient Hospital Care & Hospice)
Part B = Medical Insurance (Dr. Visits & Preventative Care)
Part C = Medicare Advantage (Private Insurance Company Coverage, approved by Medicare)
Part D = Prescription Drug Coverage

Medicare Supplement Insurance: What it is and how you use it

Medicare Supplement Insurance helps you pay medical expenses that are not covered by Medicare. There are several different supplement plans and each serves a different purpose. Medicare Supplement Insurance helps you pay more of your medical bills, so that you will have little to no out-of-pocket costs to pay to doctors, hospitals, or pharmacies.

Many private insurance companies are Medicare Supplement Insurance providers. To use these plans, you simply give your doctor, hospital, or pharmacy your Medicare card and your Medicare Supplement Insurance card(s). They will first bill Medicaid to see what will be covered. Anything that is left will be sent to your Medicare Supplement Insurance Providers. These policies together will usually pay all or most of your medical expenses, so that you don’t have to worry about hefty bills and other out-of-pocket expenses besides your premiums. Some Medicare Supplement Insurance Providers have even made this easier by allowing the doctor or hospital to bill them directly, paying the full amount, and then sending Medicare a bill for their portion of the expenses, which Medicare then pays.

Why You Need Medicare Supplement Insurance

Medical expenses in the 21st century can skyrocket quickly. With many seniors living longer than they used to due to better medical care, this equates to those living on pensions and social security being strapped by medical bills that they cannot pay. An unfortunate some even find themselves choosing between food and their prescription drugs. Since seniors often have more medical expenses than the general public, having Medicare Supplement Insurance is almost as important as having Medicare itself.

What Medicare Supplement Insurance Costs You

What Medicare Supplement Insurance costs you will vary depending on your state, age, health, and other factors. We can provide you with a quote for multiple companies simply by filling out our quote request. There are many plans available, and it is best you discuss the coverage with L.A. Insurance Inc., either in person or on the phone. We will be able to advise you on coverage, rates and enrollments that meet your budget and your needs. Although you will have to pay a premium, it will be helpful during the coming years as your medical expenses rise in order to keep you in good health. There are also plans to help cover your prescription drug expenses.

Medicare Supplement Insurance is an individual choice, but one that can save you money in the long run. If you have the means to keep up with the premiums, you will have the security and peace of mind knowing that when big bills arise, you will have more than just your Medicare plan to rely on. You will be able to control and plan your costs, which is becoming more and more important in the current national economic situation. If you are on a fixed income, it is imperative.

Medicare Advantage plans are generally required to cover the same services that Original Medicare covers. Some may also cover prescription drugs and dental or vision care. Medicare Advantage plans may give you some discounts or pay for services that Original Medicare may not cover. Original Medicare allows you to see just about any doctor and go to any hospital that accepts Medicare payments, which most providers accept. But Medicare Advantage plans may restrict you to the doctors and hospitals in the plan’s network.

L.A. Insurance Inc. offers 5 basic types of Medicare Advantage Plans; though not all types are available in all areas you might need referrals to see a specialist:

Health Maintenance Organizations (HMO)
Preferred Provider Organizations (PPO)
Private Fee-for-Service (PFFS) Plans
Special Needs Plans (SNP)
Medical Savings Accounts (MSA)

To get a Medicare Advantage plan, you must already have Medicare Part A and Part B. If you’re 65 and receive Social Security checks, you’re automatically enrolled for Part A and Part B. Medicare supplement plans (or Medigap plans) offer benefits in addition to the benefits offered by traditional Medicare Parts A and B. There are several different types of Medicare supplement plans available, including Plan A, Plan C, Plan F, Plan M and Plan N. Medicare supplement plans and Medicare Advantage plans are not complementary, so it is important for you and ’s skilled agents to understand which type of policy makes the most sense for you. Enrolling in a Medicare Advantage Plan is easy. Call us at 239-369-6000, or fill out our form to get a free Medicare Advantage quote and consultation.

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