There are some wonderful benefits when purchasing a MEDICARE SUPPLEMENT INSURANCE. Most Medicare Supplements ( Medigap ) plans are network free and the different plan types can range in the level of coverage and likewise in the out-of-pocket expenses and premium payments. One plan in Particular, the Plan F, has the most comprehensive coverage available. With this plan type, it virtually means that aside from your monthly premium, you would have ZERO additional out-of-pocket expenses! These plans are the most expensive, but many seniors take advantage of Medigap Plan F because they find it easier to budget a set monthly amount, knowing that no matter what happens that they will never have to pay more, than trying to account for all of the incidentals. Medigap plans are a great way to secure your financial future while also, more importantly, taking care of your physical health.
There are also Medicare-RX Prescription Drug Plans (Check out our new Part D calculator)available to you that are separate, stand-alone plans, which are usually paired with a Medigap plan. It is our goal to find a Medicare Prescription drug plan that is going to cover as many of your prescriptions as possible while leaving you with the lowest possible overall out-of-pocket costs. We believe in customer satisfaction and have a genuine desire to see that you have a strong financial future and that you are able to receive the healthcare that you need. We would love topartner with you to make this a reality! Our agents will take an assessment of your needs and work with you to find the medicare insurance plan and supplemental coverage that is right for YOU!
One other type of insurance to consider is some type of rehabilitation and recovery insurance and the NEW health insurance supplement. Different companies have different names for these types of plan, but it is essentially insurance that would provide coverage during a temporary (specified) period of time during which you were confined to a nursing or assisted living facility. We have already established the high cost of medical care, and even should you never need long term residential care, a short stay for rest and rehabilitation can dramatically impact your finances. The cost to stay in a nursing facility isn’t cheap and if you are not Medicaid eligible and do not have adequate insurance coverage than you will have potentially staggering out-of-pocket costs. Purchasing a short-term disability/recovery plan will give you the security that you need in the event that you must ever spend some time as a resident in a skilled nursing or assisted living facility.
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Medicare Supplement N
Understanding The New Medicare Supplement N
If you are like most people, then the ins and outs of insurance, especially all the provisions of Medicare and Medigap insurance, can be a bit confusing. Not having the right coverage can be stressful and devastating, so knowing what each plan or supplement can provide you with is important when it comes to choosing the right one for your needs. Medicare supplement N is one of the newer choices when it comes to Medigap coverage, so if you are unfamiliar with it, you are not alone. You have also come to the right place to get a basic understanding of this important option that may provide you with the best insurance coverage.
Medicare supplement N, which may also be called Medigap plan N, has several features to help you make sure that you can pay for your medical costs and care. As with most Medigap policies, plan N works to help cover the areas of health insurance in which your Medicare may not provide sufficient coverage. Supplement N does this by providing benefits for the following areas: coinsurance for hospital fees that fall under Part A of your Medicare, the deductible for Part A, coinsurance and copayments for Part A hospice, coinsurance and copayments for Part B of Medicare, three pints of blood, coinsurance for adept nursing centers, and emergencies experienced when out of the country.
An important distinction to understand about Medicare supplement N is that it pays the deductible for Part A but not for Part B. In addition, according to the government’s website dedicated to Medicare, after you shell out the copayment for visits and care that fall under Part B of Medicare, plan N will pay for all the coinsurance for Part B care.
As you can see, knowing what kind of costs you would incur under Parts A and B of Medicare may be necessary when trying to decide whether or not plan N is in your best interests or whether you would be best served by a different Medigap policy. For many seniors, Medicare supplement N is a way to ensure that the right care is available for a price that won’t leave them or their families destitute. Taking advantage of this new Medigap plan could help your reduce the amount of money you spend on medical expenses while still providing the benefits you need to feel comfortable and secure. To learn more about whether or not this plan is right for you, call 1-800-MEDIGAP (1-800-633-4427). A representative can go over the plan with you and help you understand how it would function in your situation.