Medigap Supplement Plans

While Part A has an annual deductible, and Part B covers 80% of Medicare approved services, it does not cover the remaining 20%, nor the deductibles or many additional expenses.  Medicare sets the private insurer’s requirements for supplement plans, which fill the gap of unpaid expenses by creating plans A thru L.  Each offers choices for additional coverage.  All admitted insurers are required to provide the same amount of service for any particular plan, but not necessarily at the same cost.

Medicare Advantage Plans (Part C)

Part C, known as Advantage Plans, covers both Part A and Part B of Medicare. These plans may also offer the Part D drug plan within the Plan, called MA-PD, or as MA only, without the Part D drug plan.  These plans are offered in various forms, identified as:

• HMO (Health Maintenance Organizations)
• PPO (Preferred Provider Organizations)
• PFFS (Private Fee For Service Plans)

Prescription Drug Plans (Part D)

Medicare Part D is for prescription drug plans and is offered by private insurance companies.  While some advantage plans also include Part D, original Medicare and supplemental Medicare do not and would need to be added to cover prescription drugs.

Hospital Indemnity Plans

Hospital Indemnity Plans (HIP) are a way to offset some of the surprise expenses that you might incur with a Medicare Advantage plan such as a hospital stay, emergency room or ambulance for an affordable monthly payment.  Options such as lump sum cancer and other coverage is also available.

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