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As you approach retirement and age 65, the reality of Medicare becomes imminent, leading to uncharted waters in health insurance coverage. Medicare Parts A and B, or hospital and medical insurance respectively, are extremely valuable upon termination of employer-sponsored coverage, but that doesn’t mean life after enrollment will be smooth sailing. While many expenses, like hospital visits and physician examinations, are covered, others are not, leaving gaps that can lead to steep out of pocket expenses.

Medicare supplement policies, also called Medigap policies, are designed to eliminate the missing links in your health insurance, providing coverage for many of the vital services standard Medicare does not cover, including:

  • Part A coinsurance costs up to an additional 365 days after benefits are exhausted
  • Part A hospice care coinsurance
  • Part B coinsurance or copayment
  • The first three pints of blood each year
  • Skilled nursing home care coinsurance
  • Part A and B deductibles
  • Foreign travel insurance
  • Vision coverage, dental care, and hearing aids

Medicare Supplement Policies

In the United States, Medigap policies come in 10 standardized plan forms, lettered from A through N. Each plan covers a different combination of options, allowing you to pick and choose based on your unique health concerns and future plans.

Medicare Supplement Plans
Plan Benefits A B C D F G K L M N
Part A coinsurance and hospital costs Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes
Part B coinsurance or copayment Yes Yes Yes Yes Yes Yes 50% 75% Yes Yes
Blood (first 3 pints) Yes Yes Yes Yes Yes Yes 50% 75% Yes Yes
Part A hospice care coinsurance or copayment Yes Yes Yes Yes Yes Yes 50% 75% Yes Yes
Nursing facility care coinsurance No No Yes Yes Yes Yes 50% 75% Yes Yes
Part A deductible No Yes Yes Yes Yes Yes 50% 75% 50% Yes
Part B deductible No No Yes No Yes No No No No No
Part B excess charge No No No No Yes Yes No No No No
Foreign travel exchange No No 80% 80% 80% 80% No No 80% 80%
Out-of-pocket limit $4960 $2480

Finding the Right Fit

The right Medigap policy can make a substantial difference in ensuring a healthy future. When you are seeking an affordable way to mitigate the costs associated with Medicare coverage, The Jordan Insurance Agency is here to support you from start to finish. Offering comprehensive, customized advice based on your unique needs, our agents can help you determine the perfect fit for you.

Get a free quote online or contact us at 704-926-7565 to explore how our team can help!

Posted 12:42 AM

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