Medigaps or Supplements
F Plan - Offers the most comprehensive coverage of any plan. This plan will give you the freedom of no co-pays, no deductibles and no-referrals. This plan will essentially cover all medical expenses.
G Plan - This plan works exactly like the 'F Plan' as long as you are willing to meet the $183 deductible annually. After that, all Medicare approved medical costs are covered. On average this plan will usually save you money over the 'F Plan'.
N Plan - This plan requires the same $183 deductible along with up to $20 office visits and $50 ER visits. It also has NO 'excess protection' which can leave you vulnerable in certain states where that charge may be associated.
To see which of these plans may fit your healthcare needs and your budget, let,s explore some exciting options that may fit you!
A commonly used healthcare plan is the 'Advantage Plan'. These plans are HMOs and PPOs. These plans cover everything that Medicare covers and more.
These plans usually have a lower monthly premium but they have co-pays for almost all services rendered. These plans usually require you to stick within a network and get referrals for certain services.
Medicare Advantage plans can also include built in drug coverage at no extra cost, which may be of great benefit to you.
To see if Medicare Advantage is right for you, let's sit down and discuss the great options that may work for you!
Medicare Part D
Medicare Part D is the prescription drug coverage portion of Medicare. It is designed to make access to your prescription drugs easier and more affordable.
You have a 7-month window when enrolling into your Part D plan for the first time. Three months before that month of your 65th birthday. The month of your 65th birthday and the three months after your 65th birthday. This time period is referred to as Initial Open Enrollment (IOE)
After this (IOE) you can change your plan annually during the Annual Open Enrollment (AOE). That period takes place every year from October 15th through December 7th. You can also enroll into a Part D plan when leaving creditable work coverage.
If you do not elect to take Medicare Part D, when you first get onto Medicare you can face a penalty. To avoid penalties and find the best coverage for you, let's talk about the best options for your needs!