Boomer's and Medicare cont...(MED Supp)

Welcome back...I hope everyone had a nice Memorial Day weekend :)

Following up to the prior blog on Medicare Parts (Part A, Part B and Part D), this email will go over Medicare Supplement plans that pay for expenses Medicare leaves a beneficiary to pay.

As stated prior, Medicare leaves the following for a beneficiary to pay:

Part A :  $1,162 deductible for days 1-60 in the hospital then moving to a fixed dollar amount per additional day

Part B:  $162 deductible to then pay 20% on all Medicare approved amounts with excess charges not covered

To help beneficiaries cover these expenses, private insurance carriers offer Medicare Supplement plans that either;

• pay 100% of above amounts, including excess  (Plan F)
• pay 75% of above amounts (Plan K)
• pay 50% of above amounts  (Plan L)
• pay 100% of above and require beneficiary to pay copays for office visits  (Plan N)
• require the beneficiary to pay the first $2,000 before plans pays 100% including excess  (Plan F High Deductible)

In order to be eligible for a Medicare Supplement a beneficiary must currently have Medicare Part A and Part B.  Medicare Supplements do not cover prescription drugs.

If you currently have private coverage while being eligible for Medicare, please make sure to check with your current providers to see if they accept Medicare.  If not, then it will be best for you to stay current if possible.

For more information on Medicare and Medicare Supplements please contact the shoppe.

Thanks,

Jordan