Medicare Supplements - What to Know

 We work with many private insurance companies that offer all the different kinds of Medicare Supplements (or Medi-Gap). Each company offers several different plans and we can provide instant quotes for the plans in your area. Plans F, G, and N are the most popular. The Traditional Medicare Supplements work with the design of Original Medicare Parts A & B and help cover the cost of deductibles and co-pays. Some plans cover more, some cover less, and we will find a plan that fits your needs. Call today for a free, no-obligation brochure with more information.  See also https://www.medicare.gov/supplements-other-insurance/whats-medicare-supplement-insurance-medigap

Note that we are not employed by or contracted with the federal government. 

To see monthly premiums for plans available in your zip code use the MediGap Quote link below.

 Part C health plans (also known as Medicare Advantage plans) functon to enhance your Medicare health insurance benefits. If you are enrolled in both Medicare Parts A & B, you may 'transfer' your medicare benefits to a private insurance company (contracted with Medicare and authorized to offer the plan).  They actually replace the benefit structure of Original Medicare deductibles and co-pays with a private insurance structure of deductibles and co-pays.  However, you must stay enrolled in both Medicare A & B in order to qualify. There are 4 main advantages of Medicare Advantage Plans: 

• Maximum Out of Pocket cap on healthcare expenses
• Lower premiums than most of the Traditional Medicare Supplements
• More healthcare benefits than that provided by Original Medicare (such as dental and vision care)
• Some may include the Part D drug benefit to help with costs of prescription medications.

We do not offer every plan available in your area. We currently represent 9 Medicare Advantage and Part D (prescription drug) organizations which offer 69 different plan options in Missouri. In Ohio we represent 10 organizations and 93 different plan options. In Texas we represent 8 organizations and 83 different plans. Please contact Medicare.gov, 1-800-MEDICARE, or your local State Health Insurance Program (SHIP), to get information on all of your options.  Use the Plan Finder tool to review all Part C and D plans offered in your area.

A stand-alone Part D drug plan will help reduce the cost of many prescription medications. These plans work well with Original Medicare A and/or B. Or, you may combine a Part D drug plan with Original Medicare A & B and a Traditional Medicare Supplement (see above). Remember, Original Medicare does not cover the cost of most prescription medications. 

We do not offer every plan available in your area. Any information we provide is limited to those plans we do offer in your area. Please contact Medicare.gov or 1-800-MEDICARE to get information on all of your options. Use the Plan Finder tool to review all Part C and D plans offered in your area.

Like most health insurance, Medicare Parts A & B have specific enrollment periods. Most people enroll for an effective date of the month they turn 65 years of age, You may do this 3 months before your birth month, your birth month, or 3 months after your birth month. For other enrollment periods, please call for a free brochure. 

In regard to the Part D drug coverage, you must try to avoid having a 2-month period with no drug insurance. If you delay enrollment in a Part D drug plan (or Medicare Advantage with Drug plan) more than 62 days, you risk having a life-long Late Enrollment Penalty applied to your plan. See https://www.medicare.gov/drug-coverage-part-d/costs-for-medicare-drug-coverage/part-d-late-enrollment-penalty for more details.  The penalty is not huge, but it stays with you as long as you wish to retain a Part D drug benefit.

There is also a Late Enrollment Penalty if you delay enrolling into Medicare Part B after you turn 65 years. See https://www.medicare.gov/your-medicare-costs/part-b-costs/part-b-late-enrollment-penalty

In general, the Part B Late Enrollment Penalty increases by 10% of the premium for every full year (12 months) you are not enrolled when you could have been.  To learn more, please contact us today for a free brochure.