Medicare Supplemental Health Insurance Plans
Medigap, Advantage, Medical Savings Accounts
compare costs and benefits no cost, low cost and premium best plans
Medicare Supplement or Medigap Plans supplement part A & B Medicare. They help fill the “gaps” (co-insurance) in Medicare coverage for hospitalization, skilled nursing, physicians, laboratory, durable medical equipment, etc.
1) Standard Medicare Supplemental Plans A-J – these have been the traditional plans until recently. No matter which company you chose the plans would be quite similar. PREMIUM PLAN
2) Medicare Advantage Plans have become quite attractive because they are a lower cost alternative to traditional plans. The major differences are higher cost sharing (risk) in the form of co-payments for services including hospitalization, skilled nursing and providers.
Another important difference with Advantage plans is that your provider must accept the health plan as payer rather than Medicare. Since, the plans offered by each company may be very difficult to compare it would be wise to work with an agent that you trust. LOW COST
3) The Medical Savings Account (MSA) is a no cost variation of the Advantage plans. Medicare will deposit a prescribed amount (currently $1225) in to a special savings account for you each year. You can use these funds to pay for qualified medical expenses. If these funds are used up, then you pay out of pocket up to your deductible and then the plan pays 100% of Medicare covered services for the balance of the year. Any unused funds remain and accumulate in your account to be used in future years. NO COST
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 Part D Prescription Plans |
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Selecting the right plan is as individual as you are. Total annual cost depends on the cost of the plan, co pays, formulary, and donut hole gap. To start your investigation, get a complete report from your pharmacist with costs that your agent can compare against the formulary (drugs covered and their costs) of the plans being considered.
Our suggestion: Let our agents work for you to find the plans that fit your needs now and then an annual review to determine suitability as your needs and health plans change. Reliable, patient advice for seniors
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