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With all the different parts of Medicare, it can be confusing to differentiate the coverage offered by each plan.
At John Kyle Insurance, you will gain a better understanding of your Medicare needs after learning more about Original Medicare, Medicare Advantage Plans, Prescription Drug Coverage, and Medicare Supplements.
Medicare Advantage Plans, or Medicare Part C, can be used to substitute Medicare Part A and B, as well as offer prescription drug coverage.
Known as Medigap Plans, Medicare Supplement Plans fill in the “gaps” of medical costs that aren’t covered by Original Medicare, such as coinsurance, copayments, and deductibles.
The policyholder pays the insurance company a premium payment every month in return for a death benefit to be paid to the policyholder’s chosen beneficiaries in the event of their death.
Health insurance is essential to have through all walks of life. Whether it is an individual, family, or group plan, John Kyle will advise and guide you in the right direction to find the coverage you deserve.
Different types of supplemental insurance pay you a cash benefit while you’re sick or injured. Whether it’s disability or dental, explore your many options with John Kyle.
We have acquired an abundance of knowledge, and we’re eager to share this expertise with you in the form of articles and blog posts.
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Medigap
Created as health insurance policies with standardized benefits, Medigap insurance works with Original Medicare to help cover out-of-pocket costs. These plans won’t work with other policies such as Medicare Advantage or other healthcare plans you may have. Medigap plans are sold through private insurance companies and may cover outstanding deductibles, copayments, and coinsurance that is leftover after your other benefits have been used.
Currently, there are a total of 10 different Medigap policies to choose from, ranging from A through N and include: A, B, C, D, F, G, K, L, M, and N. While premiums can vary from agency to agency, the benefits you receive will be the same regardless of where you buy the policy from. Recently, as of 2020, there have been changes to several of the plans and several that are expected within the coming year. It is always a good idea to speak with a licensed agent before purchasing a plan to understand your options and how they benefit you.
For many people, having just Original Medicare seems like enough coverage. Unfortunately, more times than not, having only Medicare Part A and Part B can result in paying thousands of dollars each year out-of-pocket. One way to make your plan more cost-effective is by purchasing a Medigap policy to pair with your current coverage. It will not only give you a little peace of mind that you can afford the care you need but makes your overall plan more effective. Below are some of the benefits that come with having Medigap insurance:
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Finding the right health insurance doesn’t have to be a chore. With the help of our experts, we can help you select the right policy to help you achieve your future goals. To get started, give us a call at (440) 230-1223 to schedule your first free consultation today.
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We are not connected with or endorsed by the United States government or the federal Medicare program.