Powered by Bearclaw-Media

Medicare Products

Uses

Medicare Supplement Plans

Original Medicare Part A (Hospital Insurance) & Part B (Medical Insurance) as primary insurance. MediGap becomes secondary coverage to fill the 20% gap in coverage that you are responsible for.

Include Prescription Coverage?

Medicare Supplement Plans

No - You MUST have minimal essential prescription coverage to avoid premium penalties and will therefore need to also pick a Part D Plan.

Premiums

Medicare Supplement Plans

Yes – there are annual premiums associated with a MediGap policy that you are responsible for paying to maintain coverage.

Co-Pay

Medicare Supplement Plans

Little to None.

Out of Pocket Expenses

Medicare Supplement Plans

None - other than the annual premiums for the policy.

Networks

Medicare Supplement Plans

No - You MUST have minimal essential prescription coverage to avoid premium penalties and will therefore need to also pick a Part D Plan.

Other Things to Know

Medicare Supplement Plans

All carriers of this plan offer uniform benefits. Plan F with one company is EXACTLY the same as Plan F with another company. The ONLY difference is the premiums they charge.

Guaranteed renewable.

Uses

Medicare Advantage Plans

Instead of original Medicare, you will receive Hospital and Medical insurance from a private company which doubles as both your primary AND secondary coverage. By choosing a Medicare Advantage Plan, you are opting out of original Medicare.

Include Prescription Coverage?

Medicare Advantage Plans

Most Plans - This is an "all-encompassing" plan comprising of parts A (Hospitalization), B (Medical), & D (Prescription Plan).

Premiums

Medicare Advantage Plans

Little to None – Depending on your geographic location, there could be minimal monthly premiums associated with a Medicare Advantage Plan.

Co-Pay

Medicare Advantage Plans

Yes - Anytime you use this plan, you will receive a bill. Depending on your geographic area, there can be up to a $6,700 max out of pocket expense.

Out of Pocket Expenses

Medicare Supplement Plans

Yes – depending on your geographic location, there can be up to $6,700 that you would be responsible for out of your pocket.

Networks

Medicare Supplement Plans

Yes - Only a select number of doctors accept this plan.

Other Things to Know

Medicare Supplement Plans

May include additional Dental, Vision and Hearing benefits.

Not guaranteed, changes yearly.