To help make Medicare more affordable, you can purchase Medicare supplements. Medicare supplements are available to fill in the gaps left by Medicare, because while Medicare covers 80 percent of Part B medical expenses, the remaining 20 percent is your responsibility. With potentially thousands of dollars in charges, a Medicare supplement is available to cover some or all of those charges.
There are several plans to choose from that cover the various co-pays and deductibles. Medicare Part A covers hospitalization while Medicare Part B covers outpatient and doctor’s visits. Plan F, the most comprehensive option, covers all co-pays and deductibles. Under Part A, there is a $1,316 deductible that is the patient’s responsibility should they go to the hospital. If the patient is out of the hospital for 60 days and is then readmitted, the deductible must be met again, up to five times in a calendar year. Plan F will cover this deductible each time, leaving no out-of-pocket costs for the patient.
Under Part A, Medicare will cover days one through 20 in an assisted living facility, should the patient need rehab care after a hospital stay or surgery. Days 21-100 are the patient’s responsibility and will cost $164.50 per day. The Plan F supplement would also cover all of these expenses. And, if at some point the need for hospice care becomes necessary, Medicare would cover the expenses at 100 percent, thus leaving no out-of-pocket costs for the patient.
Under Part B, Medicare will cover 80 percent of physician’s services (whether in or out of the hospital), ambulance services, durable medical equipment and outpatient medical charges. This leaves the remaining 20 percent of those services as out-of-pocket expenses for the patient. Thankfully, with potentially thousands of dollars in charges, the Plan F supplement covers 100 percent of the charges. The deductible under Part B is $183 per year, which Plan F also covers. Most doctors in our area accept Medicare reimbursement, however if they don’t, they can charge up to an additional 15 percent on top of Medicare-approved amounts. If the doctor you visit does this, the Plan F supplement will cover these charges at 100 percent.
MOBILITY OF MEDICARE SUPPLEMENTS
Medicare supplements are accessible nationwide, allowing you the freedom to see the specialist of your choice while enjoying your retirement. We are continually on the lookout for the best rates and coverage, so know that when you become our client, you are getting the best health coverage and value available.
Whether you are just coming onto Medicare or already have a Medicare supplement and are wondering if you’re getting the best value for your money, we can help. Call us today and set up an appointment with one of our agents who will take the time to explain the different plan choices you have so you feel comfortable and confident with your Medicare coverage.