SUPPLEMENTS

Option #1 in the world of Medicare is to keep your Original Medicare card, which provides Hospital (Part A), and Medical/Doctor (Part B) and then add supplementary coverage, called Medigap (also called a Supplement-because it supplements Original Medicare.) Medigap will pay after Medicare, and depending on the specific Medigap Plan, (such as F, G, N, etc) it will pay the out-of-pocket costs that would be YOUR responsibility under Original Medicare—costs such as the Part A hospital deductible, and daily copays; Part B deductible and coinsurance (the 20% that Medicare requires YOU to pay.)

Medicare standardized these plans which means each plan letter is the same, NO MATTER WHICH CARRIER YOU BUY IT FROM—the benefits are the same. Cost is usually the only difference between plans of the same letter, but sold by different carriers.

Supplements give you the comfort of knowing you can go to any provider in the US who accepts Original Medicare.

WE WILL SORT THROUGH PREMIUMS FROM EVERY CARRIER TO FIND WHICH ONE IS LOWEST FOR YOUR AGE AND GENDER. 

Why pay more than necessary as you’re not getting any additional benefit by paying more.  HINT:  that senior advocate membership benefits organization that lots of people buy at age 50 is often much more expensive (depending on age and gender) so don’t fall for the hype, and certainly don’t listen to your friends and neighbors—they are almost guaranteed to be overpaying. 

With option #1, most people also enroll in Part D. See details below.


MEDICARE ADVANTAGE PLAN- MAPD’s

Option #2 is called   A Medicare Advantage/Prescription Drug plan (MAPD) and is sometimes referred to as Part C.  With an MAPD, you choose to receive your Medicare benefits ( Part A, Part B, and Part D) through a private insurance company that has a contract with Medicare to provide all your Medicare benefits to you (including drug coverage)—through the plans network of providers. An MAPD  typically has a lower, (often ZERO) premium than a Supplement, but you’ll also typically have copays for most services.   

You must be wondering how a plan that has a ZERO premium can be any good at all, right?  Well actually, it’s not as crazy as it seems because when you choose to enroll in an MAPD, Medicare sends the $144 that they are collecting from you, AND the money they are collecting from taxpayers—and they send this to the carrier you’ve enrolled with.  So now that carrier gets all that money from Medicare—and it’s now the carrier’s responsibility to provide ALL your Medicare benefits to you through their network of providers—and remember, these plans INCLUDE the drug coverage.    

SO NOW WHICH OPTION IS THE BEST?

We’ll that’s where we come in.  Our years of experience is the secret sauce that helps you understand these options, and to figure out which one will be right for you. And keep in mind, the best option for one spouse is not necessarily the best choice for the other. 

We can’t make the decision for you—be we promise that your choices will be clear and you’ll be confident in what you’ve selected. 

PRESCRIPTION DRUG PLAN- PDP’s

“Getting it right” is just as important when it comes to choosing drug coverage.  The number one area of complaints and grievances that Medicare receives from enrollees is concerning the drug coverage.  It’s no wonder when you consider that each carrier’s Part D plan has it’s own unique Formulary—that’s just a fancy word for “list of covered drugs”— premiums, copays, and list of pharmacies.   

And since you typically cant change your plan until the following year, being in the wrong plan could mean your meds aren't covered, or they’re way more expensive than they might be if you were in the “right” plan, or there isn’t a convenient pharmacy nearby. 

So if you’re choosing OPTION 1…..Medicare plus Medigap plus Part D, you will get what’s called a “STAND ALONE” drug plan.  You’ll have a separate card for your drug coverage and it will provide coverage for drugs only—no medical at all. 

However, if you’re choosing OPTION 2, your Medical plan will INCLUDE the drug coverage. You’ll have one card that includes HOSPITAL, DOCTOR AND DRUG COVERAGE. 

WE GET IT…..THIS IS ALL NUTS!!  

SO, DON’T TRY THIS AT HOME— What you don’t know CAN hurt you!