What are Medicare Supplement Plans (Medigap)?

Medigap In Florida

Medicare only covers 80% of your medical expenses from hospitals/doctors

Best Medicare Agents Near Boynton Beach

NO restrictive networks– perfect for “snow-birds” and those who travel to different areas

Medigap Help Center Florida

Visit ANY doctor, specialist, hospital that takes Medicare, anywhere in the U.S.

Covers ALL or MOST of your out-of-pocket costs for Medicare approved services (predictable healthcare costs and avoid any surprises)

Supplement Plans (Medigap) help pay the remaining “gaps” that you normally would have to pay (20% coinsurance, deductibles, copays, excess charges)

Medigap In Florida

Foreign Travel Emergency benefits cover you when traveling outside the U.S. on vacation

How to compare Medicare Supplement Plans (Medigap)?

  • Federally standardized plans designated by a letter (Plan F, G, N, etc.) that cover certain benefits
  • Insurance companies that sell these “letter plans” must cover these same specific benefits
    (Plan F with Company ABC covers SAME EXACT BENEFITS as Plan F with Company XYZ)
  • Main difference is each company can charge DIFFERENT PREMIUMS for the same exact benefits ($158 Plan N with Company ABC vs $200 Plan N with Company XYZ)
  • COMPARING PRICE FOR COVERAGE IS IMPORTANT, the experienced licensed brokers take a deeper dive into company statistics by researching how often they increase rates, how long they’ve been in the Medicare Supplement market, financial strength ratings and customer service experience.
  • Let the experts help you compare plan benefits and rates from top-rated companies in your area!

What are Medicare Advantage Plans (Part C)?

  • Medicare Advantage Plans (aka “REPLACEMENT Plans”) are another way for beneficiaries to get their Medicare part A & B benefits. It’s ALTERNATIVE coverage so instead of having Original Medicare Parts A & B as your primary insurance the Advantage plan becomes primary.
  • Advantage plans are NOT Medicare Supplement Plans (Medigap); They’re COMPLETELY DIFFERENT!
  • If you join an Advantage Plan, you give-up (replace) your Original Medicare Parts A & B. Medicare pays a private insurance company a fee every month for the company to administer your Part A & B benefits.
  • If you join an Advantage plan you may pay a low-premium or zero-premium, but the trade-off is that you will be RESTRICTED to limited networks of doctors/hospitals who must accept your plan
  • You will pay deductibles, copays, coinsurance up to the plan’s out-of-pocket-maximum
  • Additional rules apply such as using doctors/hospitals within the provider network
  • If you want to see a doctor/specialist/hospital outside of the network you may pay higher costs or not be covered at all
  • Many Advantage plans provide part D drug benefits (sometimes have higher out of pocket costs)
  • Be aware that doctors/hospitals can drop from the network at any time
  • Be aware that plan benefits and drug formularies can change at any time
  • Advantage plans may require getting prior authorization for many services and procedures
  • HMO plans are the most popular Advantage plan. They require you to have a PCP to coordinate your benefits and require referrals before seeing specialists. PPO plans allow you to see out-of-network doctors/hospitals but you will pay higher out-of-pocket costs.
  • Enrollment in an Advantage plan means that you are required to stay on that plan for one year (Jan-Dec)
  • You can only make changes to your plan during AEP or OEP unless you qualify for an SEP. Check to see if you qualify for a Special Enrollment Period.

What are Medicare Part D (Prescription Drug Plans)?

  • Helps lower the cost of prescription drugs
  • Offered by insurance companies that are approved by Medicare

Which Drug Plan Is Right For Me?

  • The drug plan with the lowest premium does not necessarily equate to lowest annual total cost
  • We will help you find the best drug plan that fits your needs and budget according to your specific prescription drug list
  • Every drug plan has a different premium along with a deductible and copays
  • Each drug plan has a different list of drugs that are covered under their “Formulary & Tiers”
  • Your actual drug plan costs will vary depending on factors such as the drugs you use, the plan you choose, the pharmacy you use, whether the drugs you use are on your plan’s formulary, etc.

Need Help Choosing Affordable Medicare Supplement Insurance?