Medicare Supplemental Insurance

There are 14 standard insurance policies that help pay most of the the out of pocket charges that the original Medicare plan won’t cover. (If you’re in Medicare Advantage plan, including a Private Fee For Service plan, HMO or PPO you do not need a Medicare supplement policy.)

Medicare supplemental policies are also know as Medigap and Medicare supplements

Each standard medigap policy, labeled A through L, provides a different set of features, that fills various “gaps” in coverage, and differs in cost. There are insurance companies that provide the “high deductible option” on Medicare supplement plans F and J.

All supplemental policy are required to cover specific basic features. These benefits are as follows:

• Coinsurance for hospital days 61-90 ($256 in 2008) and 91-150 ($512 in 2008)
• Cost of 365 more hospital day in your lifetime, once you have used the entirety of hospital policy benefits

• Generally, 20% of doctor bills and fifty percent of mental health medical services
• The first three pints of blood

• Basic Benefits

• Basic Benefits
• Medicare Part A Hospital Deductible: $1,024 in 2008 for each benefit period for in-patient hospital policy services

• Basic Benefits
• Medicare Part A Hospital Deductible
• Skilled Nursing Home Costs: Your cost ($128 in 2008) for days 21-100 in a skilled nursing home.
• Medicare Part B Deductible: Yearly deductible for doctor services ($135 in 2008).
• Foreign Travel Emergency:
• 80% of cost of emergency care outside U.S.A borders
• Up to $50,000 during your lifetime
• There is a yearly deductible of $250

• Basic Benefits
• Medicare Part A Hospital Deductible
• Skilled Nursing Home Costs
• Foreign Travel Emergency
• At Home Recovery
• Help for activities of daily living, such as bathing and dressing, for those receiving skilled home care that is Medicare approved.
• There is an extention of eight weeks after patient no longer recieving skilled care.
• Benefit of up to $40 per visit, seven visits per week. Maximum benefit is $1,900 per year.

• Basic Benefits
• Medicare Part A Hospital Deductible
• Skilled Nursing Home Costs
• Foreign Travel Emergency
• Preventive Care: Up to $120 per year for preventive medical services approved by your doctor.

• Basic Benefits
• Medicare Part A Hospital Deductible
• Skilled Nursing Home Costs
• Medicare Part B Deductible
• Medicare Part B Excess Charges: Pays 100% of the difference between your doctor’s charge and the Medicare approved amount to a non-Medicare assignment doctor.
• Foreign Travel Emergency

• Plan “F” has an option called High Deductible Plan “F”. This high deductible plan offers the same benefits as the regular Plan “F” but the benefits do not start until after you pay a calendar year deductible of $1,900 in 2008 (this deductible goes up with inflation).
• Some of the expenses you will have to pay to satisfy the deductible include the Medicare deductibles for Parts A and B, but does not include the Foreign Travel Emergency deductible. The Foreign Travel Emergency deductible must be paid regardless of whether you have met the $1,900 deductible. Also, you cannot count the Foreign Travel Emergency deductible toward the $1,900 deductible.

• Basic Benefits
• Medicare Part A Hospital Deductible
• Skilled Nursing Home Costs
• Medicare Part B Excess Charges: Pays 80% of the difference between your doctor’s charge and the Medicare approved amount, if your doctor does not accept assignment.
• Foreign Travel Emergency
• At Home Recovery

• Basic Benefits
• Medicare Part A Hospital Deductible
• Skilled Nursing Home Costs
• Foreign Travel Emergency
• Prescription Drugs: fifty percent of prescription drug costs up to $1,250 each year after a yearly deductible of $250. (If purchased before 2005)

• Basic Benefits
• Medicare Part A Hospital Deductible
• Skilled Nursing Home Costs
• Medicare Part B Excess Charges: Pays 100% of the difference between your doctor’s charge and the Medicare approved amount, if your doctor does not accept policy assignment.
• Foreign Travel Emergency
• At Home Recovery
• Prescription Drugs: fifty percent of prescription drug costs up to $1,250 each year after a yearly deductible of $250. (If purchased before 2005)

• Basic Benefits
• Medicare Part A Hospital Deductible
• Skilled Nursing Home Cost
• Medicare Part B Deductible
• Medicare Part B Excess Charges: Pays 100% of the difference between your doctor’s charge and the Medicare approved amount, if your doctor does not accept assignment.
• Foreign Travel Emergency
• At Home Recovery
• Preventive Care
• Prescription Drugs: fifty percent of prescription drug go for up to $3,000 each year after a yearly deductible of $250. (If purchased before 2005)

* If you choose the “high deductible option” on supplemental Medicare Plan F and J, you will first have to pay a $1,900 deductible in 2008 before the plan pays anything. This amount goes up every year with inflation. This high deductible option is less expensive, but getting medical attention will cost you more money.

*In addition to the A-L standard medigapMedicare (Medigap) plan, Medicare SELECT is a type of medigap policy that is more affordable than a traditional Medicare supplement policy.

However, you can only go to certain doctors and hospitals to receive medical care. Please contact us today to find the suitable Medicare Select or supplemental policy that is available in your area

*Plans K and L involves cost-sharing for medical expenses and services. In these plansm, once you reach the annual expense limit ($4,440 for Plan K and $2,220 for Plan L), the plans pays 100% of the Medicare co-payments, coinsurance, and deductibles for the rest of the calendar year.

The out-of-pocket annual limit does NOT include charges from your provider that exceed Medicare-approved amounts, called “Excess Charges.” The client will be responsible for paying excess charges. The out-of-pocket annual limit will increase each year with inflation