Why Medicare Supplement Plans?
Many North Carolinians are surprised to learn that Medicare only covers 80% of your Part B medical costs, leaving you to cover the remaining 20%. This gap can lead to significant out-of-pocket expenses, especially in the case of serious illnesses or injuries. Medicare Supplement Plans, or Medigap, help cover these additional costs, offering you peace of mind by reducing your cost-sharing responsibilities.
How Do Medicare Supplements Work?
When you visit a healthcare provider with a Medicare Supplement Plan, the provider bills Medicare first. Medicare pays its portion and sends the remainder to your Medigap insurer, which covers the excess according to your plan.
Benefits of Medicare Supplement Plans
- Choose Your Provider: Freedom to select any healthcare provider that accepts Medicare. - No Referrals Needed: Visit specialists without needing a referral. - Nationwide Coverage: Coverage extends beyond North Carolina. - No Claims Paperwork: Simplified claims process. - Guaranteed Renewal: Your coverage cannot be canceled due to health conditions. - Predictable Costs: Helps manage and predict healthcare expenses. - Guaranteed Coverage: Enroll for guaranteed acceptance during the initial enrollment period.
Different Medicare Supplement Plans
There are 10 Medigap plans, each identified by a letter (A to N), offering different levels of coverage:
- Plan A: Basic benefits required to be offered by all insurers. - Plan B: Similar to Plan A but includes the Part A hospital deductible. - Plan C: Covers nearly all copayments except Part B excess charges. - Plan D: Mid-range coverage, less comprehensive than Plans F and G. - Plan F: Most comprehensive, covering all gaps. (Not available for new enrollees after January 1, 2020). - Plan G: Popular for new enrollees, covering all except the Part B deductible. - Plan K: Covers 50% of coinsurance with a high out-of-pocket limit. - Plan L: Covers 75% of coinsurance with a lower out-of-pocket limit. - Plan M: Lower premiums with cost-sharing for deductibles. - Plan N: Similar to Plan G with lower premiums and some copayments.
Find the Right Plan for You
At Health Plans of NC, our experienced local Medicare agents can help you compare and choose the best Medicare Supplement Plan for your needs. We specialize in assisting North Carolina residents with personalized advice and support.
Get in Touch
Need help finding the right Medicare Supplement Plan? Contact our expert agents today for a detailed quote and comprehensive information.
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