Let National Benefits Group help you find a better plan for your Medicare* dollars!
So many plans, so many choices- it can be overwhelming! However, we'd like to make it simple.
Basically, if you're eligible for Medicare currently, are turning 65 soon, or becoming eligible for Medicare due to disability, you have two options available to help cover some of those additional costs that original Medicare doesn't cover:
1) Medicare Supplement Insurance (also called "Medigap" coverage)
2) Medicare Advantage plans (also called "Part C")
HERE'S A SIMPLE CHART TO EXPLAIN THE DIFFERENCES BETWEEN THE TWO IN A NUTSHELL
(We encourage you to visit www.medicare.gov for more details and explanations of your Medicare plan choices.)
MEDICARE SUPPLEMENT INSURANCE
You pay a higher premium, and for that the insurance company pays most if not all the medical expenses not covered by Medicare, including inpatient, outpatient, doctor visits, nursing care and more.
Does NOT include Part D prescription drug coverage- you will need to sign up for a standalone drug plan for an extra premium if you wish to have drug coverage.
Premium rates may increase each year as you get older.
You are guaranteed to be approved, regardless of health history if you are just turning 65, or if your current plan is being discontinued. However, if you wish to switch to another medicare supplement plan later, you may need to be underwritten again, and coverage may not be guaranteed, based on your health status.
You can apply to switch or change your supplement plan anytime.
Most plans offer a small, or even NO premium, but you will have out of pocket co-pays and co-insurance when you need medical treatment.
Many Medicare Advantage plans have Part D drug coverage built-in for little or sometimes NO extra cost, depending on the plan.
Premiums don't automatically increase each year due to age.
Most pre-existing health conditions are acceptable, and will not cause you to not be accepted for coverage.
To provide service to you, doctors must first accept the plans terms and conditions, or be part of the plan's network (except in emergency situations).
You can sign up or switch to another Medicare Advantage plan only during the Annual Election period (which falls towards the end of each year), or under special circumstances.
*Neither National Benefits Group nor its agents are connected with the Federal Medicare Program, do not represent or are employed by Medicare or the federal government.