What is a Medicare Supplement plan?
First of all, Medicare Supplements and Medicare Medigap Plans are the same thing. These plan names are interchangeable.
To put it simply, supplements help pay the portion of your medical bills that Medicare does not cover 100%. Let’s say you had a quick doctor’s visit totaling $100. If Medicare only covers a portion, for example $75, then your supplement would cover the balance of $25 for you. These modest bills are not why you would purchase a supplement, however. What if the bill was $100,000 though and Medicare only covered $75,000. You would be thrilled that you had the supplement to cover the balance of $25,000!
Supplements, like Medicare Advantage plans, are purchased through private insurance companies. For an annual premium, these polices fill in the gaps that Original Medicare does not cover. Now, please understand that not all supplements are created equal. Supplements take form in Plans A thru N. Which one is for you? Also consider that supplements no longer cover prescription medications – A Part D Rx plan will provide that coverage for an additional premium.
Determining which of these plans (A thru N) works best for you is the basis for meeting with a Blue Goose agent. He or she will not only be able to compare Plans A thru N with you, but also compare that to various Medicare Advantage plans as well. Usually in one meeting you’ll be able to make an informed decision of which type of plan is most right for you.
At Blue Goose, we take the complex world of Medicare and simplify for it for you. Though we represent dozens of various plans and companies, we are dedicated to sharing unbiased advice to help you make a decision. If you are looking for Medicare supplement plans in Maine or New Hampshire, then call us today. We’ll be thrilled to help you.