medicare supplement plans, what are they,why do you need one, and how do you choose the right plan? i’m russell noga with medisupps.com.stay tuned we’ll learn all those things and more.medicare supplements were designed right alongside part a and part b medicare to help pay forthe gaps. these gaps include things like deductibles copayments and coinsurance that original medicaredoesn’t pay. now medigap plans are offered by private insurance companies can help paysome or all of these gaps depending on which plan you choose. peole with part a and b medicareare responsible for paying these. for example it are admitted into the hospital and medicareyou’ll have to pay a large deductible of $1216 for each benefit period. there’s alsodeductible for part b medicare of $147 annually.
this will need to be paid prior part b paying80% of doctors bills. other expenses include the 20% coinsurancethat medicare part b doesn’t pay along with hospital coinsurance after a certain numberof days. as you can see these expenses can get pretty costly. now medicare supplementplans give you the peace of mind in knowing that most or all of your medical bills willbe paid, the question is which plan letter do you choose? as you can see there are quitea few different plans to choose from. medicare supplement plans are designated in lettersa through n. and although these are offered by private insurance companies medicare standardizesthe plans. now what that means it is that medicare requires that each company offerthe same benefits within each plan letter.
for example a mutual of omaha medicare supplementplan f is identical to a plan f from say, aetna. now although the coverage and plansare standardized the premiums are not from each company. therefore it makes it extremelyimportant to check the rates once you choose a plan from all the top carriers because theywill all have different premiums. even medicare in its own publication choosing a medigappolicy on page 19 states has there can the big difference is in the premiums that differentinsurance companies charge for exactly the same coverage. so now that you know you needto shop the rates once you choose a plan so you don’t end up overpaying, it’s timeto choose a plan. there are few medicare supplement plans that are the most popular due to outstandingcoverage. those plans are plan f, g, and plan
n. medicare supplement plan f is the mostcomprehensive plan offered by medicare and pays 100% of the gaps in part a and part b.so all of your approved expenses will be paid 100% and you’ll never get a bill. this isalso the most expensive plan out there so be sure to check the rates from all the topcarriers. medicare supplement plan g is almost identical to plan f except for one small difference.on plan g you must pay the $147 annual part b deductible first before medicare pays anything.after you meet this deductible plan g will pay 100% of the gaps just like plan f butplan g has lower premiums than f and usually will save you money. then there’s medicaresupplement plan n. now plan n has lower premiums than both plan f and plan g. with plan n youstill pay the annual part b deductible of
$147 after which you might have a co pay upto $20.00 per doctor’s visit. also if you visit the emergency room on plan n you willhave a $50.00 co pay if you’re not admitted. plan n also does not cover part b excess charges.now i have a separate video for each of those plans that go into more detail about theirbenefits. to find those videos just click the links below in the description. also ifyou like this video and you want to learn more go ahead and click the subscribe buttoni have a lot more information all of my other videos to help you understand more about medicaresupplement plans. also feel free to comment and ask any questions down below and i’llbe happy to answer them for you. and to get instant quotes online for any of the medicaresupplement plans i talked about today simply
visit my website at medisupps.com or you canalways call and speak me directly at 888-891-0229. thanks so much for watching, stay happy, stayhealthy and i can’t to talk to you soon! the question is, which plan letter do youchoose? where are the letters?