Educational, No-Cost Guidance for Medicare
and Health Insurance.
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Understanding Medicare, and Plan Comparison
Medicare plans are categorized into two types: Medicare Supplement (Medigap) plans and Medicare Advantage plans.
Medigap plans provide standardized benefits across most states. This means that the benefits associated with a specific plan letter are consistent, regardless of the insurance company you choose. For instance, Plan G from one insurer offers the same benefits as Plan G from another, although the costs may vary between companies.
On the other hand, Medicare Advantage plans can differ significantly from one insurance company to another and can also vary by region. These plans, offered by private companies and approved by Medicare, serve as an alternative to Original Medicare for your health and drug coverage.
Medicare Supplement (Medigap)
Medicare Advantage Plans (Part C)
Every year, Medicare releases a booklet titled "Guide to Choosing a Medigap Policy."
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Some insurance companies provide high-deductible options for Medigap Plan G and Plan F in select states. If you choose a high-deductible plan, you will need to pay for Medicare-related costs (including coinsurance, copayments, and deductibles) up to a deductible of $2,700 in 2023 before your policy starts to cover any expenses.
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For Medigap plans K and L, once you reach your annual out-of-pocket limit and meet the annual Part B deductible ($226 in 2023), the plan pays 100% of covered services for the rest of that calendar year.
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Plan N covers all Part B coinsurance costs, except for a copayment of up to $20 for some office visits and up to a $50 copayment for emergency room visits that do not result in an inpatient stay.
Will My Doctor Take My Medicare Supplement Plan?
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Medicare supplement plans do not have provider networks, giving you the flexibility to choose your own Medicare doctors and hospitals anywhere in the country. There are no network restrictions and no referrals needed.
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For a free personalized Medigap quote, call us at (888) 465-9728.
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Medicare Advantage plans, commonly known as “Part C” of Medicare, provide an optional alternative for accessing your Medicare benefits. These plans are managed care options (like HMO and PPO plans) offered by private insurance companies that contract with Medicare.
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By law, every Medicare Advantage plan must deliver at least the same level of coverage as Original Medicare Parts A and B. However, many plans may offer additional benefits, such as prescription drug coverage (Part D), along with hearing, vision, dental, and wellness programs.
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The costs and benefits of Medicare Advantage plans vary depending on your location. Additionally, since these plans operate on a calendar year basis, the benefits may change from year to year.
Will My Doctor Take My Medicare Advantage Plan?
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It varies. Most Medicare Advantage plans are associated with specific networks of doctors and hospitals, and these networks can change over time. We suggest performing a detailed review of your plan's benefits and provider networks each year.
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Medicare rates Advantage plans using a 5-star system, with ratings updated annually and subject to change from year to year.
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To check plan options available in your area, give us a call at 281-607-4053