Some of these plans will be changing soon.
-A Medicare Supplement or “Medi-gap” policy is only available from private insurance companies.
-These plans are standardized by the federal government and are offered as plans A-L.
-The most popular plan is plan F
-A Medicare Supplement plan also known as (“Medigap”) provides additional coverage beyond Original Medicare.
Here are the main features these plans offer:
- Help reduce or eliminate money paid out of pocket for care received (deductibles, co-pays, and coinsurance)
- Standardized plans that are identified by letters – A through L (Massachusetts, Minnesota and Wisconsin have their own standardized plans)
- Are only offered through private insurance coverage
What these plans can do for your clients:
- Help manage out-of-pocket costs
- Give freedom to choose any doctor that accepts Medicare
- Free from paperwork with virtually no claim forms to file
- Provide national coverage so your client can use benefits anywhere in the U.S. and if they move, their coverage moves with them
- Provide foreign travel coverage for emergency services, depending on the plan
- Provide guaranteed renewable coverage, meaning the plan automatically renews or is guaranteed to continue from year to year as long as premiums are paid when due
- Provide 30-day “free look” evaluation period. Full refund of premiums if policy is returned within 30 days of policy issuance.
- Offer special extras such as pharmacy savings, vision discounts, and a 24-hour Nurse Hotline, depending on the plan.