Why Are Medicare Supplement Plans Important?

At Turning 65 Solutions, we know that having the proper coverage can give you peace of mind during your golden years. That’s why we provide you with all the information and resources you need to make sure you’re covered the right way.

If you’re enrolled in Original Medicare, you may wonder what other options you have to expand on your coverage. One option that many consider is Medicare Supplement insurance, also known as Medigap.

What Do Medicare Supplements Cover?

Medigap plans supplement your Original Medicare by providing additional coverage for healthcare costs such as deductibles, coinsurance, and copayments. Some Medicare Supplement plans may also cover costs for those who received medical care outside of the United States while traveling. 

For many Medicare beneficiaries, this extra coverage makes Medigap a very important feature to have with their Original Medicare coverage.

Why Purchase a Medicare Supplement Plan?

Helps lower your out-of-pocket costs
Accepted at ANY hospital that accepts Medicare
Offers the best coverage for your needs in retirement
Coverage is renewable as long as you pay the premiums

Your Medicare Supplement Options

One of the most interesting things about Medicare Supplements is the number of options available — there are ten standardized plans available in Texas. These plans are labeled as A, B, C, D, F, G, K, L, M, and N. 

Important note: Plans C and F are only available to Medicare beneficiaries who were eligible for Medicare before January 1, 2020, but this still leaves eight options available for newly eligible beneficiaries who are considering a Medigap plan.

Since there are multiple plan options, it’s important to note that each plan offers its own set of standardized benefits. What does this mean exactly? Each plan is different in the coverage it provides. For example, Medigap Plan A provides the most basic coverage of all the Medigap plans. It will cover 100% of:

  • Part A coinsurance and hospital costs
  • Part A hospice care coinsurance and copayment
  • Part B coinsurance and copayment
  • First three pints of blood

Now, let’s compare it to the most comprehensive plan, Medigap Plan F. It will cover:

  • Part A coinsurance and hospital costs
  • Part B coinsurance and copayment
  • First three pints of blood
  • Part A hospice care coinsurance and copayment
  • Skilled nursing facility care coinsurance
  • Both Part A and Part B deductibles
  • Part B excess charges
  • 80% of foreign travel emergency care

It’s important to compare each option to determine what coverage would work best for you. Our expert team can shop plan rates to find the best Medigap plan for your needs and budget. 

Is a Medicare Supplement Right For You?

It depends on your health and financial situation. If you travel a lot, or have a year of poor health and visit your doctor often, having a Medigap plan can be a real difference-maker — by covering some or all of your out-of-pocket expenses.   

At Turning 65 Solutions, we help our clients get the most out of the Medicare plans available in their area. If you’re ready to look at your Medigap options, our licensed experts are here to help you navigate your choices and find the best Medicare Supplement plan for your lifestyle and healthcare needs. 

All you have to do is call 830-217-6711 or send an email to ron@t65s.com to schedule your appointment!

Turning 65 Solutions can help you plan for the future.