Medicare Supplement plans (also known as Medigap insurance) are health insurance plans designed to fill in the "gaps" in Medicare. They pay the 20% that Medicare does not cover at the doctor and hospital, and in most cases, also pay the Medicare Part A and Part B deductibles.

Because they limit your exposure to the potential of high out-of-pocket health care costs, they are an essential part of any secure financial plan for someone on Medicare. Since the plans are Federally-standardized, it is important to know and understand what each plan covers so that you can compare companies and rates. The Federal Medicare Supplement standardized plans chart, which compares what each plan covers, is below (this chart recently changed - for effective dates after June 1, 2010).

What Are Medicare Parts A, B, C and D and What Do They Cover?

It can be confusing, and often, overwhelming to understand Medicare. You hear all the talk about "parts" and "plans" and wonder what exactly all the terms mean.

Brief Overview: 

• Medicare Part A is also known as "Hospital Insurance" and helps cover inpatient care in hospitals as well as skilled nursing facility, hospice, and home health care.
• Medicare Part B is also known as "Medical Insurance" and helps cover various outpatient services including doctor's visits as well as some preventive services.
• Medicare Part C is also known as "Medicare Advantage", which can come in various network options including PPO, HMO, and PFFS.
• Medicare Part D is also known as Medicare Prescription Drug Coverage and helps Medicare recipients cover the cost of medications.

Shopping for Medicare supplement insurance plans can be a confusing and tiring process. There are some things that are important to know:

          * You have to have Medicare part A & B

          * You have to pay your part B premium (unless Medicaid pays it for you)

          * You have to pay a premium to the insurance company for the Medicare supplement

* Your Medicare supplement will only cover you. If you have a spouse he/she will have to get a separate one.

* Medicare supplement insurance policies can be purchased from any Insurance companylicensed to do business in your state.

* Medicare supplement plans are guaranteed renewable your insurance company cannot cancel your policy for any reason other than you not making your premium payment

* Medicare supplement policies will not cover drug benefits except sometimes in a clinical or hospital setting

* Medicare supplement policies are standardized and come in various plan designs with letter designations( ex. Plan F, Plan G, Plan J, etc)

IMPORTANT, there are certain times when you will be guaranteed issue (usually 90 days before and following your 65th birthday, in most cases you have 6 months after you join Medicare Part B) for a Medicare supplement. When you are in one of these guaranteed issue periods you are ensured that your medical conditions will not need to be disclosed.

• To identify other situations that allow you to be in a guaranteed issue when you are outside of 6 months please read: "2010 Choosing a Medigap Policy: A Guide to Health Insurance for People with Medicare"

Medicare supplement insurance underwriters can underwrite your policy at the rate stated initially by the insurance agent or you could get a slightly elevated rate based on health conditions or you can be denied coverage. It's important to understand that each Medicare supplement insurance company has different underwriting guidelines. One Insurance Company may approve your application and one may decline you.  This is why it is IMPORTANT to work with a qualified Senior Specialist to insure the right choice. Contact us today so we can supply you with the BEST Medicare supplement available at no cost or obligation for you.  

Medicare Supplement/Medigap can reduce, or in most cases, eliminate completely, your out-of-pocket medical costs. Many seniors who are on a "fixed income" appreciate this about Medicare Supplement plans.

Comparing Medicare Supplement/Medigap plans is easy to do since plans are standardized. Here are a few of the things included in the specific Medicare Supplement insurance plans coverage (see the chart above to see specifics about what each standardized plan covers):

• The 20% at the doctor and hospital that Medicare does NOT cover
• The Part A deductible ($1100 per benefit period in 2010)
• The Part B deductible ($155 per year in 2010)
• The skilled nursing facility 20% coinsurance that Medicare does not cover
• At Home Recovery
• The excess charges that doctors may charge in addition to the Medicare-approved amount
• Preventive Care
• Foreign Travel emergencies

Why Should I Compare Medicare Supplement plans/rates?

Comparing Medicare Supplement plans is important because the coverage on these plans are the same from company to company; the premium rates are the only things that vary.

In some cases, people just go with the first Medicare Supplement they look at or one that they have heard of, without doing a comparison of their options. It is okay if you want to do it that way - it is, obviously, your choice. However, in many cases, NOT doing a Medicare supplement comparison can lead to simply throwing your money away. In many cases, you can get the equal coverage from an equal company for as much as $100/month difference.

TOP FIVE REASONS TO COMPARE MEDICARE SUPPLEMENT PLANS:

1. Medicare Supplement/Medigap supplements can reduce, or in most cases, eliminate completely, your out-of-pocket medical costs.
2. Companies are required to offer standardized coverage but are at liberty to set their own prices. So, premiums vary greatly.
3. They can give you a set figure for "health care expenses" to plug into your monthly budget, regardless of what happens with your health. In other words, they limit your exposure to catastrophic and rising helath care costs.
4. It is extremely easy to do. Since the plans were standardized in 1992, comparing them has been easier than comparing any other type of insurance.
5. The other reason to compare supplement plans for your age and zip code is, simply, rates change. As you probably know if you have been on Medicare, Medicare Supplement rates change from time to time. Because of that, it is always important to know the marketplace and get Medigap quotes and comparisons to make sure you are paying the best possible available rate.

How Do I Get Medicare Supplement Plan Quotes?

It is easier than ever to get Medicare Supplement rate quote comparison in one place so that you can compare all of the plans for your age and zip code.

In year's past, you may have had to call each individual company, listen to their sales pitch and and try to make sense of which plan would be best. Besides being time consuming, it could be very frustrating to do the comparison this way.

Now, with Medicare-Supplement-Comparison, you can get this information from an independent, unbiased brokerage that specializes in the Medicare Supplement marketplace. We know the rates and companies inside-out, and we can provide quick Medicare Supplement quotes that are guaranteed to help you compare and find the best rates on Medicare Supplement plans.

Access the quick quote form to get a rate quote comparison of plans for your age and zip code emailed to you.

Compare Medicare Supplements...

• Turning 65 / Going on Medicare
• Blue Cross Blue Shield
• United American
• United Health/AARP
• Mutual of Omaha
• Great American
• Loyal American
• Genworth Financial
• American Continental
• American National
• Standard Life & Accident
• Gerber Life
• And many more


*We will not sell trade or make your contact information available to anyone outside our organization.  If you desire to or have provided your information to companies that share your information remember, we work with each client individually and will not use high pressure tactics or sales pitches.