Managing your medical costs as you get older includes making sure you have the right supplement to your Medicare plan to fit your financial needs. We shop numerous carriers to find the best rate for you, and then back that with our pledge to assist you with quality service.
The first place you should look for information on your Medicare coverage is on the government’s Medicare website, located here. If you haven’t already visited the website, do so – and bookmark it. Medicare.gov is your first source for information on your benefits.
Also called Medigap plans, these options provide varying amounts of coverage to supplement your existing Medicare Part A and Part B coverage. Plan benefits are the same from every carrier and do not change from state to state, either (except for Massachusetts, Minnesota and Wisconsin, who have their own standards – but we don’t write coverage in those states). The only difference between policies is the rate each insurance carrier charges. Plan A is the most basic plan and offers the least coverage, while Plan F is the most comprehensive option. Plan F also offers a high-deductible plan with a deductible amount up to $2,200 in 2018. The chart below is a quick guide as to what is covered under each plan.
There are changes coming in the next few years for Medicare Supplements. Specifically, Beginning January 1, 2020, Plans C and F will no longer be made available to new registrants. The reason given for this is that Medicare is making the move to reduce claims and thereby control costs. For those who already have Plans C and F, though, there is nothing to be concerned about; you’ll be grandfathered in and able to keep your plan. And, so long as you still medically qualify, you’ll also be able to shop for and/or change companies after 2020.