Medicare Supplement plans, also known as Medigap, are policies that help pay for the excess charges left over by Medicare. These costs are things like your deductibles and coinsurance.

What is Medicare Supplemental Insurance?

Medicare Supplement plans, or Medigap, are insurance policies sold by private insurance companies that are licensed to sell Medicare plans. They help you pay for out-of-pocket costs for services covered under Medicare Part A and Part B. These costs include deductibles, coinsurance, copayments, hospital costs after Medicare pays its share, skilled nursing facility costs, and more. Some Medicare Supplement insurance plans even include coverage for medical services while traveling outside the United States.

Medicare Advantage, also known as Medicare Part C, is a health insurance plan provided by private companies approved by Medicare. It offers at least the same coverage as Original Medicare – Part A and Part B. But also, Medicare Advantage gives some additional benefits that Original Medicare does not provide.

The most often added benefit is prescription drug coverage (Part D), which is included in almost every Part C plan.

These additional benefits can sometimes be provided at no additional cost to you. This is possible because Medicare actually pays the insurance company a set amount for providing your healthcare coverage.

So, let’s take a look at the eligibility, enrollment, and benefits of an Advantage plan.

Medicare Part D is Medicare’s prescription drug benefit that provides outpatient drug coverage. Part D is provided through private insurance companies contracted with the federal government. 

If you want Part D coverage, you have to either buy a standalone plan or get it through a Medicare Advantage plan.

Prescription Drug Plans and Medicare Advantage Prescription Drug Plans cover all vaccine drugs when necessary to prevent illness. Other than that, you will have a formulary unique to your plan that details what drugs are covered. So, before you choose a plan, you need to talk to a licensed Medicare specialist like the ones at Bobby Brock Insurance to make sure all the drugs you require are covered with your plan.

Top Carriers

I didn’t realize how much a hospital stay could cost until it happened to me. My Hospital Indemnity Plan covered my copays and gave me extra cash to handle bills while I recovered. Candi made the process simple and stress-free.

Candi has served me well as my Medicare agent for 4 years. She is always up-to-date on nay new developments concerning Medicare coverage. There is great comfort in realizing that Candi understands my needs as her client. I trust her explicitly.

Candi made signing up for Medicare easy! Not only did she walk us through all the needed info on the website, but she entered the information for us to make sure it was correct! The various levels of plans were explained in detail and she made sure any medications and physicians were in plan. We highly recommend signing with someone who understands the details and keeps up on all the changes for you!