Also known as Medigap plans
These private insurance policies are designed to give you the most flexibility and freedom to chose your providers. Each state has a variety of plan available with varying levels of coverage. A licensed agent in your state is the best resource to selecting the plan that suits you.
Generally, supplement plans cover the 20% that Medicare does not cover. Depending on your specific plan, there may be a deductible that you must incur before coverage begins. Some do not have a deductible, but tend to have a higher premium.
A strong plan will have no co-pays (a set dollar amount) or co-insurance (a percentage) when you visit the doctors or hospital. You may only have to sign a form. The trade off is you have premium to pay.
Additionally, you must get a stand-alone prescription drug plan to cover your prescriptions. These plans will have a premium that can range from $30 to $80 per month.
In summary, you must continue to pay your Part B to Medicare, pay the supplement premium and the Rx plan premium.
Let us help you find a licensed agent in your area who can answer your questions and recommend a plan that suits your situation.
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