Medicare Plan D
Medigap Plan D is one of the 10 standardized Medicare Supplement insurance policies meant to cover the "gaps" in coverage by Original Medicare.
What does Medigap Plan D cover?
First, do not confuse Medigap Plan D with Medicare Part D. Medicare Supplement Plan D does NOT cover prescription drugs. No Medigap plan covers prescription drugs.
However, Medigap Plan D does provide coverage for:
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Part A hospital coinsurance and hospital costs for an extra 365 days after Origianl Medicare benefits are used up
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Part A hospice care coinsurance payment and copayments
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Part B copayment and coinsurance payment
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First three pints of blood for a medical procedure
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Skilled nursing facility care coinsurance
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Part A deductible
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80% of foreign travel emergency costs up to plan limits
Plan D does not cover Medicare Part B's deductible or excess charges. An excess charge is when a doctor charges you twice the amount Medicare pays for a service. Medicare approves up to 15% excess charges. Some states do not allow for this, so ask a licensed agent with The Integrity Group if this coverage is necessary and we will gladly look into it. If you state does allow for excess charges, there are Medicare Supplement plans that do cover them.
What Medicare Supplement Insurance Plan should I choose?
Medigap Plan D is about in the middle between cost of premium and coverage provided when it comes to the 10 Medicare Supplement plans.
Plan D has more coverage than Plans A and B, but htere are other like F and G that have greater benefits but cost a little more.
It's just up to you whether you want the premium saving but more out-of-pocket expenses or vice versa.
Any licensed Medicare agent at The Integrity Group would be happy to take a look into your situation and offer their expertise to help you make an informed decision when it comes to your health care.
Medigap Plan F
Medigap Plan F is the Medicare Supplement that provide the most coverage. It covers both Original Medicare Part A and B deductibles, all copays, and all coinsurance. This means you have no out-of-pocket expenses.
What does Medicare Supplement Plan F cover
Medigap Plan F features the most comprehensive benefits package out of all Medicare Supplement policies.
Plan F covers:
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Original Medicare Part A's deductible
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Part B deductible
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Part B excess charges
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Part A coinsurance and hospital costs up to an additional 365 days after Medicare's benefits are all used up
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Part B coinsurance or copayments
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Frist three pints of blood used in an approved medical procedure
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Skilled nursing facility coinsurance
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80% of a foreign travel emergency (up to plan limits)
As you can see, there's a reason Medicare Supplemental Plan F is the most frequently purchased Medigap plan according to several reports. It pays for all gaps in coverage by Original Medicare including your hospital and outpatient deductibles.
That's right, that means there are no out-of-pocket costs when you visit the doctor.
If you're wondering how much it is to have this peace of mind, give one of our licensed Medicare agents at The Integrity Group a call today!
Are medical supplement plans worth it?
If you take a look above at what Medigap Plan F covers, it could save you a lot of money if you visit a doctor frequently or have multiple (or lengthy) stays in a hospital.
Other than the fact you are left with no out-of-pocket expenses, there are theses other benefits:
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Choose your own doctor
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No referrals required to see specialists
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Guaranteed renewable - your coverage can't be canceled due to health or number of claims
How much can I save with a Medicare Supplement Insurance Plan?
Medicare Part A's deductible is currently $1,384 when you go to the hospital. You also pay 20% of any procedure.
With Medicare Supplement Insurance Plan F, all of that is paid by your supplement.
So, it wouldn't be out of the question for a Medigap plan to pay for itself in one hospital visit.
And if you buy a plan through an independent broker like The Integrity Group, you will receive a competitive rate that most major carriers can't reach.
Medigap Plan G
Medigap Plan G offers the second-best coverage in the Medicare Supplement realm making it the second-most popular plan among Medicare beneficiaries.
It covers all the gaps in Original Medicare other than Part B's deductible.
What does Medigap Plan G cover?
Medicare Supplement Plan G covers almost every out-of-pocket expense left behind by Original Medicare, including:
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Medicare Part A coinsurance and hospital costs
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Medicare Part B coinsurance or copayment
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First three pints of blood used in an approved medical procedure
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Part A hospice care coinsurance or copayment
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Skilled nursing facility coinsurance
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Medicare Part A deductible
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Medicare Part B excess charges
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Foreign travel emergency
The only thing it does not cover is Medicare Part B's deductible.
Because that lowers the premium, some Medicare beneficiaries are willing to take that risk.
Medicare Plan G deductible
A lot of people mistakenly think Medicare Supplement Plan G has a deductible. Actually, the deductible you are paying is Medicare Part B's outpatient care deductible, which is $185 in 2019. After that deductible, Medigap Plan G covers all remaining expenses.
If you can find a Plan G plan quite a bit cheaper than Plan F in your area, it might make more sense financially to choose Plan G due to savings.
This is because Plan B's deductible is only paid once annually. So, if your premium for Plan G is more than $15 cheaper than Plan F, you will be saving money.
A licensed Medicare agent with The Integrity Group would be happy to shop medicare supplement plans for you.
Does Plan F or Plan G offer more coverage?
Technically, both plans offer the same amount of coverage. The only difference in these two popular Medicare Supplements is that you pay Medicare Plan B's deductible once per year. However, because Plan G has a lower monthly premium, you may actually save money!
Reach out to one of us at The Integrity Group to see how you can take care of almost all of your out-of-pocket Medicare expenses and save money today!