There are 11 standard Medicare supplement plans available which are offered through various independent companies. Here are brief overviews of three of those plans.
Each of the 11 independent companies mentioned above must offer Plan A. Plan A covers basic benefits that include the 20% co-insurance for Part B expenses, while the hospital co-pays after the first 60 days.
However, Plan A does not cover the Part A hospital deductible, which was $1,340 (as of 2018).
Medicare-eligible persons interested in a lower-premium plan often select Plan N. Plan N enrollees must pay a $20 co-pay for office visits, and a $50 co-pay for emergency-room service along with the Part B deductible, which was $183 (as of 2018).
Under this plan, additional costs may apply if your physician does not accept Medicare assignment.
Plan F (Our Recommendation)
We recommend Plan F, which is the most comprehensive plan available. Some of the benefits of Plan F are:
- Medical expenses are covered in full
- No deductibles or co-pays as long as you select a Medicare provider and the treatment is covered by Medicare
- A high-deductible Plan F will pay 100% of all approved charges after initial annual deductible is paid (as of 2016, the deductible is $2,180)
Part D: Medicare Prescription Drug Coverage
To cover your health prescriptions, we encourage our clients to select Part D, a prescription drug plan. Part D is an annual-calendar-year contract offered through private insurance companies.
As of this writing in 2018, there are 25 plans available! We’re able to help you select the plan that’s most appropriate for your prescription-drug needs. It is important to review your Part D plan each year during Open Enrollment, which is from October 15th to December 7th—but we can help you do that as well.
Medicare requirements and supplemental plans can be confusing, and many people don’t know where to start. That’s where we come in.
For 40 years, we’ve been providing San Luis Obispo with expert knowledge of Medicare, so we know exactly how to help you find the Medicare solution that’s right for you. No need to research anything. Just contact us today to set up a FREE consultation.