What is a Supplement/Medigap?
Original Medicare does not cover everything. For instances, deductibles for Parts A and B, coinsurance of 20%, and prescription drugs. To reduce or eliminate those costs and gain prescription coverage, a Medigap policy and stand-alone Prescription Drug Plan can be purchased by private insurance companies.
Features of Medigap Policies:
- Must have Medicare Parts A and B to enroll
- No networks. Any doctor that is Medicare certified in the country
- No referrals from primary doctor to specialists
- Offers Plans set by Medicare and they do not change
- Plans have a monthly premium and are adjusted yearly
- Some plans like G do not have any copays after the Part B deductible is paid
- Some emergency international travel included
Medicare Advantage Plan vs Medigap
Finding the right fit for your medical and financial needs is an important part of choosing any supplement to Original Medicare.
Bayside Health Benefits offers a Certified Medicare Insurance Planner™ to find the right fit for your needs. We work with ELEVEN insurance companies to diligently search for a health plan that meets your needs. In addition to the insurance company, we are available all year to service your policy by helping you understand its benefits and know how to use them.
Do I pay you for your services? Why should I use a broker/agent?
- No. We are paid by the insurance company.
- Access to knowledgeable, Certified Medicare Insurance Planner™
- Guide to enrollment timeline and penalty avoidance
- Help finding the right plan for your medical/financial needs
- Saves confusion and research time of doctors and RX
- Knowledge about multiple carriers, not just one
- Navigation of policy benefits
- Agent/broker services your policy in addition to the carrier
Option 1 - Medigap
- No Networks
- No Referrals
- Part B Deductible, $226
- No Copays
- International Travel
- RX coverage SEPARATE
Option 2 - Medicare Advantage
- PPO, HMO Networks
- Referrals required on most HMO’s
- Similar to Employer Coverage
- Copays, OPM
- Dental, Vision, Hearing, OTC, Gym, DSNP, CSNP, Givebacks
- RX coverage INCLUDED
Get Help Today
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