If you're shopping for a Medicare Supplement, and you're wondering how you can save some money on your monthly premiums, your insurance agent might show you Plan K and High Deductible Plan G as viable options. Plan K and High Deductible Plan G are the lowest-cost Medigap plans available in most … [Read more...] about Medicare Plan K vs High Deductible Plan G Pros and Cons
What are the Disadvantages of a Medigap Plan?
The other day a woman new to Medicare wrote me to ask, "What are the disadvantages of Medigap plans?" As I had clearly spelled out the many reasons people feel Medicare Advantage plans are bad, she wanted to know the pros and cons of Medigap plans, as well. Let's get into it. Quick Answer to … [Read more...] about What are the Disadvantages of a Medigap Plan?
Medicare Advantage Insurance Costs in 2023
If you are new to Medicare, you might find the cost structure confusing. This is particularly true when it comes to Medicare Advantage plans. In this article, we'll do our best to demystify exactly how much Medicare Advantage plans cost. That way you will be able to compare plans to find the one … [Read more...] about Medicare Advantage Insurance Costs in 2023
Average Cost of Supplemental Insurance for Medicare in 2023
We evaluated over 100 Medicare Supplements to find out how much it costs the average person. Where you live, age and the amount of coverage purchased were the factors that influenced costs the most. According to our research, the average cost of Medicare Supplement Plan G is $132.25 per month. … [Read more...] about Average Cost of Supplemental Insurance for Medicare in 2023
Top Medicare Supplement vs Medicare Advantage Pros and Cons
Deciding between a Medicare Supplement vs. Medicare Advantage is the most important decision most people will make when enrolling in Medicare. With Medicare Advantage, you can get more benefits. But with a Medicare Supplement plan, you get more coverage. Therefore, research and thoroughly … [Read more...] about Top Medicare Supplement vs Medicare Advantage Pros and Cons
Is it Better to Have Medicare Advantage or Medigap?
While shopping for Medicare health insurance, particularly if you are getting your benefits for the first time, it's important to understand the difference between Medicare Advantage and Original Medicare with a Medigap plan. In this article, we'll cover the fundamental benefits of each. We'll … [Read more...] about Is it Better to Have Medicare Advantage or Medigap?
What is Medigap Coverage Used for in Medicare?
Medicare covers about 80% of your major medical costs. Unless you have additional coverage, the remaining 20% is paid out-of-pocket. Medigap coverage is used to pay the 20% out-of-pocket costs in Medicare, These include various deductibles, coinsurance, and copayments. In this article, we will … [Read more...] about What is Medigap Coverage Used for in Medicare?
How Do I Switch from Medicare Advantage to Medigap?
Many people get into a Medicare Advantage plan with the belief that it will cost less than Original Medicare. For some people, it works out that way. For others, it doesn't. When it doesn't, Medigap may be a better solution. If you have discovered the difference between Medicare Supplements … [Read more...] about How Do I Switch from Medicare Advantage to Medigap?
Why Can You be Denied a Medicare Supplement Plan?
The gaps in Original Medicare coverage make additional coverage essential. Although Medicare Part A (hospital insurance) and Part B (medical insurance) pay about 80% of all Medicare-approved services, the out-of-pocket costs can be very expensive. That is why the Medicare program created Medigap … [Read more...] about Why Can You be Denied a Medicare Supplement Plan?
The True Cost of Medicare Advantage Plans
When people are struggling to afford catastrophic coverage with Obamacare, how can it be that health insurance companies are giving away Medicare plans for nothing? They aren't. Not by a long shot. A Medicare Advantage plan with a zero-dollar monthly premium isn't free. It may be the most … [Read more...] about The True Cost of Medicare Advantage Plans