he first decision should be which plan
suits your
coverage needs.
The Federal Government mandated that all Companies
who issue Medicare Supplement plans do so in a uniform
manner .These policies are identified by letters (Plans A
through L). Plans F and J also come in a high
deductible
version.
You will need to acquaint yourself with what level of
coverage each plan offers and select the plan that has
the amount of coverage that suits your needs. The "Plan F"
Is the most popular and is selected by 90% of the clients.
|
| Options |
A |
B |
C |
D |
E |
F* |
G |
H |
I |
J* |
| Basic Benefits |
 |
|
|
|
|
. |
|
|
|
|
| Part A: Inpatient Hospital Deductible |
|
|
|
|
|
. |
|
|
|
|
| Part A: Skilled-Nursing Facility Coinsurance |
|
|
|
|
|
. |
|
|
|
|
| Part B: Deductible |
|
|
|
|
|
. |
|
|
|
|
| Foreign Travel Emergency |
|
|
|
|
|
. |
|
|
|
|
| At-Home Recovery |
|
|
|
|
|
|
|
|
|
|
| Part B: Excess Charges |
|
|
|
|
|
100% |
80% |
|
100% |
100% |
| Preventive Care |
|
|
|
|
|
|
|
|
|
|
* Plans F and J also have a high deductible option. If you choose this option, you must pay $1,860 out-of-pocket
per year before the plans pay anything. Insurance policies with a high deductible option generally cost less than those with
lower deductibles. Your out-of-pocket costs for services may be higher if you need to see your doctor or go to the hospital.
BASIC BENEFITS: Basic Benefits for Plans K and L include similar services as Plans A through J, but cost sharing for the
basic benefits is at different levels.
| |
K** |
L** |
| Basic Benefits
| 100% of Part A Hospitalization Coinsurance plus coverage for 365 days after Medicare Benefits end 50% Hospice cost-sharing
50% of Medicare eligible expenses for the first three pints of Blood 50% Part B Coinsurance, except 100% Coinsurance for Part
B Preventive Services |
100% of Part A Hospitalization Coinsurance plus coverage for 365 days after Medicare Benefits end 75% Hospice cost-sharing
75% of Medicare eligible expenses for the first three pints of Blood 75% Part B Coinsurance, except 100% Coinsurance for Part
B Preventive Services |
| Skilled Nursing Coinsurance |
50% Skilled Nursing Facility Coinsurance |
75% Skilled Nursing Facility Coinsurance |
| Part A Deductible |
50% Part A Deductible |
75% Part A Deductible |
| Part B Deductible |
|
|
| Part B Excess (100%) |
|
|
| Foreign Travel Emergency |
|
|
| At-Home Recovery |
|
|
| Preventive Care NOT Covered by Medicare |
|
|
| |
$4,140 Out of Pocket Annual Limit *** |
$2,070 Out of Pocket Annual Limit *** |
**Plans K and L provide for different cost-sharing for items and services than Plans A through J. Once you reach the annual
limit, the plan pays 100% of the Medicare copayments, 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”. You will be responsible for paying excess charges.
***The out-of-pocket annual limit will increase each year for inflation.
|
| |
|
#2
Once that you determine which plan offers the coverage
that you need ,its now time to see which company has the best rates.
Remember, the Federal Government mandated that all Companies
who issue Medicare Supplement plans do so in a uniform manner .
If you select a "Plan F" then the coverage can not differ company
to company but you will find that the price will differ.
#3 Once
that you determine the pricing of the various
Companies for the plan that suits your needs, then the
final factor to consider is the Financial strength "Ratings"
and the "Claims Payment" record of the lowest priced companies.
It is best to limit the companies to those who have an "A" rating. This
can be determined by the ratings posted by A.M. Best rating services.
The claims and service history of the companies that you are
considering can be checked by inquiring at your State Dept of Insurance.
The search for the right plan that suits your needs can only be as good
as your understanding of the coverages of each plan offered.
Searching all of the companies for the best price can take a lot
of your time
And knowing which companies have the strongest ratings and claims payment
records can sometimes take :
"Industry Knowledge"
We can save you time and money and quote you the plans that will be the
Best Value. We will make it simple and we will keep the application process simple.
Quotes for the residents of:
Alabama
Florida
Georgia
North
carolina
South Carolina
Ohio
