As you approach retirement and age 65, the reality of Medicare becomes imminent, leading to uncharted waters in health insurance coverage. Medicare Parts A and B, or hospital and medical insurance respectively, are extremely valuable upon termination of employer-sponsored coverage, but that doesn’t mean life after enrollment will be smooth sailing. While many expenses, like hospital visits and physician examinations, are covered, others are not, leaving gaps that can lead to steep out of pocket expenses.
Medicare supplement policies, also called Medigap policies, are designed to eliminate the missing links in your health insurance, providing coverage for many of the vital services standard Medicare does not cover, including:
- Part A coinsurance costs up to an additional 365 days after benefits are exhausted
- Part A hospice care coinsurance
- Part B coinsurance or copayment
- The first three pints of blood each year
- Skilled nursing home care coinsurance
- Part A and B deductibles
- Foreign travel insurance
- Vision coverage, dental care, and hearing aids
Medicare Supplement Policies
In the United States, Medigap policies come in 10 standardized plan forms, lettered from A through N. Each plan covers a different combination of options, allowing you to pick and choose based on your unique health concerns and future plans.
| Medicare Supplement Plans | ||||||||||
| Plan Benefits | A | B | C | D | F | G | K | L | M | N |
| Part A coinsurance and hospital costs | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes |
| Part B coinsurance or copayment | Yes | Yes | Yes | Yes | Yes | Yes | 50% | 75% | Yes | Yes |
| Blood (first 3 pints) | Yes | Yes | Yes | Yes | Yes | Yes | 50% | 75% | Yes | Yes |
| Part A hospice care coinsurance or copayment | Yes | Yes | Yes | Yes | Yes | Yes | 50% | 75% | Yes | Yes |
| Nursing facility care coinsurance | No | No | Yes | Yes | Yes | Yes | 50% | 75% | Yes | Yes |
| Part A deductible | No | Yes | Yes | Yes | Yes | Yes | 50% | 75% | 50% | Yes |
| Part B deductible | No | No | Yes | No | Yes | No | No | No | No | No |
| Part B excess charge | No | No | No | No | Yes | Yes | No | No | No | No |
| Foreign travel exchange | No | No | 80% | 80% | 80% | 80% | No | No | 80% | 80% |
| Out-of-pocket limit | – | – | – | – | – | – | $4960 | $2480 | – | – |
Finding the Right Fit
The right Medigap policy can make a substantial difference in ensuring a healthy future. When you are seeking an affordable way to mitigate the costs associated with Medicare coverage, The Jordan Insurance Agency is here to support you from start to finish. Offering comprehensive, customized advice based on your unique needs, our agents can help you determine the perfect fit for you.
Get a free quote online or contact us at 704-926-7565 to explore how our team can help!
