We’ll help you make sense of Medicare Supplement Insurance in Pennsylvania
Medicare Supplement insurance, often referred to as “Medigap” insurance, is designed to cover the difference between what you are billed by a medical provider and what original Medicare Part A (hospital coverage) and Part B (outpatient coverage) actually covers.
Why should I consider a supplement plan?
Medicare beneficiaries are responsible for 20% of Medicare Part B claims for outpatient services like Dr. Office visits, lab, diagnostic tests, radiology, physical therapy and more. Hospital stays covered under Medicare Part A have a significant up front deductible and extended stay cost sharing. This means that if you are only covered under government Medicare without a supplement, you could be exposed to huge medical bills*. Having the proper Medicare Supplement plan can give you peace of mind that your medical bills for services covered under Medicare are minimal.
Medicare Supplement plans don’t utilize a provider “network”, so you have the flexibility to use any healthcare provider in the US that accepts Medicare. Medicare Supplement plans are standardized by the government, and a given plan design, for example Medicare Plan G, has the same benefits regardless of which insurer you purchase it from. The only difference is in how the insurer prices their coverage, the insurer’s customer service and the ease of doing business with them.
There are multiple Medicare Supplement plans to choose from, with varying coverage limits and pricing. Choosing the wrong plan can result in thousands of dollars in out-of-pocket costs, so it’s important that you choose wisely. Because we are an independent agency we have access to multiple Medicare Supplement companies and plans, so we can truly find the best possible plan and price for your unique situation and needs.
Note: If you choose to be covered under original Medicare and a Medicare Supplement plan, you will need to choose a standalone Medicare Part D Prescription Drug plan.
*If you are covered by both Medicare and a group insurance plan, either through your own employment or a spouse’s, you may not need your own stand-alone Medicare Supplement coverage because your group insurance could be functioning as your supplement.
Call our office today for personalized guidance with choosing your Medicare Supplement coverage