What You Must Know to Avoid Financial Ruin & Get What You Deserve
Sixty million people (51 million seniors and 9 million adults with disabilities) use Medicare for their health insurance coverage. To understand what Medicare covers and how it provides coverage benefits, you need to know the … [Read more...]
How To Choose a Medicare Supplement Plan
Original Medicare provides decent health insurance coverage for your major medical, but it doesn’t cover everything. However, you have the option to fill most of the coverage gaps by purchasing a Medicare supplement plan, also known as Medigap.
While it might initially seem complicated, if you … [Read more...]
Medicare Supplement Open Enrollment: Its Not When You Think It Is
There is a lot of confusion about the open enrollment period for Medicare supplement insurance (aka, Medigap). In this brief article, we'll answer the two most common questions, including when is it and how long does it last.
When is Medicare Supplement Open Enrollment?
It's easy to be tricked … [Read more...]
Medicare Supplement Plans for Disabled Under 65: What You Need to Know
If you're under the age of 65 and you qualify for Medicare benefits due to a disability or End-Stage Renal Disease (ESRD), you may or may not be able to purchase Medicare supplement insurance plans. It all depends on where you live. However, you absolutely will once you do turn age 65.
Medicare … [Read more...]
Medicare Plan N (Medigap Plan N): One of the Newest, Innovative Supplements
What is Medicare Plan N?
Medicare Supplemental Plan N is one of the ten standardized Medigap plans. Although it is one of the newest plans available, Medicare Plan N is quickly becoming a favorite with Baby Boomers aging into their Medicare benefits. This is particularly true of Baby Boomers who … [Read more...]
High Deductible Medicare Plan F: Is It Worth The Risk?
Medicare Plan F High Deductible is a version of the regular Medicare Plan F in which you pay all costs until spending reaches the annual deductible. According to Medicare.gov, this plan is only available to people new to Medicare. That means you can buy this Medigap plan if you first become eligible … [Read more...]
Do I Really Need Supplemental Insurance with Medicare?
We often get questions from people about to retire who are concerned about their budget. This is understandable because a fixed budget can put the squeeze on your finances.
Recently I got a question from a friend with Social Security disability benefits that has had her Medicare since she was in … [Read more...]
Can I Change Medicare Supplement Plans Anytime?
When Can I Change My Medicare Supplemental Insurance Plan?
Unlike Medicare Advantage and Medicare Part D, there isn't an Annual Election Period (open enrollment) for Medicare supplements. That's good news.
The bad news is that switching Medicare supplements – to a different carrier for a better … [Read more...]
Best Medicare Supplement Plans: One Size Does Not Fit All
What Are The Best Medicare Supplement Plans?
When shopping and comparing Medicare supplement plans, the most important thing to understand is the amount of coverage you need. The reason for this is that supplemental Medicare insurance (aka, Medigap) is standardized. That means that a Medicare Plan … [Read more...]
Medicare Supplement Plans with No Premiums: What’s the Scoop?
Medicare supplements, also called Medigap plans, are supplemental insurance policies for people with Original Medicare. Unlike Medicare Advantage plans, which completely replace your traditional Medicare benefits, no insurance companies offer Medigap plans with no premiums. Here's why.
Original … [Read more...]
High Deductible Medicare Plan G: Is it Any Good?
The high deductible version of Medicare Plan G has the same coverage benefits as the regular Medigap Plan G, but you pay all costs until your Medicare-approved costs reach the annual deductible. According to Medicare.gov, High Deductible Medicare Plan G is only available if you first become eligible … [Read more...]
Medicare Supplement Plans: What Are They And Who Should Get One?
Nearly 11 million Medicare beneficiaries use Medicare Supplement insurance to cover the gaps in their traditional Medicare coverage. Also known as Medigap plans, supplemental Medicare policies help pay a portion of the shared costs baked into the original Medicare system. Available in all 50 states, … [Read more...]
How Much Do Medicare Supplements Cost?
Many seniors are shocked to learn that Original Medicare (Part A and Part B) only pays about 80% of Medicare-covered costs and that there's no out of pocket maximum on the costs that beneficiaries pay (the remaining 20%). Learning this is when most people become interested in supplemental Medicare … [Read more...]
Is Medicare Plan G Better than Plan F? It All Depends on What You Value Most.
The 2010s are behind us and with the new decade comes a big change in Medicare. As of 1 January 2020, Medicare Plan F is no longer available to people getting their Medicare benefits for the first time. In other words, if you're not age 65+ before 2020, Medicare Plan F isn't for you.
Medicare Plan … [Read more...]
Medicare Advantage vs. Medicare Supplement: Which is Best for You?
Medicare Supplement vs. Medicare Advantage: Which is Better?
Before 2003, when Medicare added the private health insurance option, known as Medicare Advantage, seniors only had two options: pay out-of-pocket or buy a Medicare supplement. Now there's anon-going debate as to which option is … [Read more...]
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