Medicare Supplemental Insurance Quotes - Medicare Supplements Made Easy

Why a Medicare Supplement Policy in 2012?

Posted by Adam Patterson

10,000 people a day are turning 65 for the next 17 years!!! This wave, known as the "baby boomers" is one of the biggest, if not the biggest, amount of people turning 65 in the world and its happening right here in the USA.

This is going to be a big burden on the system in ways that no one can ever really understand completely, which prevents analyst from mapping out a plan for the future generations to adhere, to make sure Medicare stays in place and continues to protect the senior citizens of our population.

So what is one to do if they are turning 65 today or in the near future?

The first thing you must do as a consumer is understand the basics of Medicare itself.

Medicare is a federal health insurance system that has 4 main parts

• Part A - Hospital Protection. Under original Medicare before coverage is allotted to you in the hospital, you are responsible for 1230.00 which is referred to as your PART A DEDUCTIBLE. Not to make things confusing, but the DEDUCTIBLE resets itself 60 days after you enter the hospital, SO WITHOUT PROTECTION YOU COULD END UP PAYING THIS DEDUCTIBLE MORE THAN ONCE A YEAR.

• Part B - Doctor Protection - Under original Medicare before coverage is allotted(80% coverage) you are responsible for the PART B DEDUCTIBLE, which in 2012 is 140.00. This is ONLY PAID ONCE A YEAR.

• Part C - MEDICARE ADVANTAGE SYSTEM- THIS IS NOT A MEDICARE SUPPLEMENT, THIS REPLACES YOUR TRADITIONAL MEDICARE FOR A CONTRACT THAT IS GOOD FROM JAN 1 TO DEC 31. These kinds of plans combine hospital, doctor and Rx coverage usually and can save a person money. HOWEVER, if you have continuous hospital and doctor visits you could end up PAYING MUCH MORE than you would under original Medicare and a secondary AKA MEDICARE SUPPLEMENT (We have not talked about what a “Medicare Supplement” actually is, but hang tight, we are just about to get there)

• Part D - Rx coverage. These plans only cover the Rx that are approve by Medicare and the FDA. Daily Vitamins, unless in a non-over the counter form, and OTC drugs are not covered. There are up to 33 Rx plans a person can choose from. To find out which ones is right for you call 800-218-7935.

Neglecting Part C for a minute, the easiest way to understand Medicare is simply this; After your deductibles are paid, Medicare covers a person for 80% for hospital and doctor charges/bills. So, this means without protection, Medicare will have you pay the 20% of all your bills and the Part A and Part B deductibles. This can be extremely devastating to someone receiving maybe only 1200 a month or less in social security.

A Medicare Supplement, and there are many to choose from, such as Plan G Plan N or Plan F, fills in the gaps left behind by traditional Medicare. To see a break down of all plans click here.

Lets use Plan F as a guide to understanding how a Medicare Supplement works. Plan F will cover a person for 100%. This means it will pay the Part A and Part B deductible as well as the 20% left behind after the deductibles. It will also pay any EXCESS CHARGES (Charges your doctor may charge above what Medicare says he or she can). It will also pay for any charges left behind for the consumer to pay in a SKILLED Nursing Facility AKA Rehab. You would go to a Rehab for therapy on a hip or knee replacement. Simply put, the only costs you are responsible for if you do have Plan F is the premium to the insurance company. WANT TO FIND OUT WHO IS THE MOST AFFORDABLE IN YOUR AREA?
CALL 1 8000 218 7935.

Many consumers also like PLAN G, and here is why. Plan G is just like Plan F, however, with Plan G you would pay the Part B deductible. People seem to like it because it has a cheaper premium than Plan F and in some states, even after the Part B deductible is paid the consumer will still save more money than if he or she would of gone with Plan F. This is not the case in all states, so call 1 800 218 7935 to see which Plan is cheaper for you.

Plan N is also picking up speed in the Medicare world, due to its cheaper premiums. Plan N, however, will have you pay the Part B deductible, a 20$ copay any time you see a doctor(which can get expensive in a hospital, with a different doctor checking you chart every 2 hours, and yes, you will pay a $20 co pay every time they see you which can really add up quick) as well as a 50 co pay in the ER. Be careful when picking a plan that leaves your wallet too exposed. There is a reason why millions have chosen Plan G and Plan F; they provide financial security.

So why a Medicare Supplement, whether it be Plan F or Plan G or any other Medicare Supplement other than the fact it provides financial security? Our answer to that question here at Medicare Supplements Made Easy is simple. Medicare Supplements are guaranteed renewable for life. What does that mean? That means that as long as your premium is paid up month to month, the plan can never be taken away from you. If Plan F or Plan G are not available for purchase in the future, as long as you have one, you can continue to use it. You are "grandfather'd" in. This is important to understand, because many analyst speculate that Plan F and Plan G will not be around forever. You must understand a simple and true fact. Medicare, essentially is the government. Medicare Supplements are designed by the government and the future buying of Plans F and G can be taken away, if the government wants to head in the direction of having the consumer spend a certain amount of money before coverage is allotted. It hasn’t happened yet, but many speculate that a "cost sharing" system will be in place of Plans F and G in the future.

If those cuts are made and a person has Plan F or Plan G, they will be given the coverage that they are provided from day 1 of the policy. It is protection in its highest form, for now and for the future.

Find out which Medicare Supplement aka Medigap Plan is best for you @ Medicare Supplements Made Easy 800 218 7935.

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