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Medigap Insurance FL

Posted on 03 14 2011 by Julia Gilels

Medigap and Medicare are too often-heard words in and around your 65^th birthday. Fortunately, the words Medigap and Medicare are one in the same. They are both commonalities to describe secondary insurance behind traditional Medicare. Medicare is a government-run healthcare system put in place to cover 80% of all Medicare beneficiaries’ doctor and hospital bills. The remaining 20% of doctor and hospital costs are just one of the three major gaps traditional Medicare leaves for its beneficiaries to cover out of their own pockets, unless the proper Medigap Insurance FL is put into place. Like I said, there are three major gaps that must be acknowledged before you make the correct decision regarding secondary insurance.

Now, 20% may not seem like a whole lot if you’ve been lucky enough to stay healthy. However, if you need major surgery and major procedures done, 20% can be a whole lot. For example, the average cost of open-heart surgery is right around $100,000.00. If you only have Medicare and no other insurance, you would literally be responsible to pay $20,000.00 out of your own pocket! Furthermore, there are two deductibles you must fulfill prior to Medicare stepping in and covering 80% of hospital and doctor expenses. Part A is Medicare’s outpatient, or hospital, coverage. Before Medicare will pay 80% of your Part A bill, you must fulfill an $1132 deductible every 60 days. One example of a Part A cost would be the actual cost of the room at the hospital. Part B is Medicare’s impatient, or doctor, coverage. Examples of Part B costs are an annual at your primary care physician or the cost of actual surgery. Prior to Medicare stepping in and covering 80% of a Part B bill, you must fulfill an annual deductible of $162. Another out of pocket cost that is becoming more and more prevalent is known as “Part B Excess”. Part B Excess refers to the additional l 15% certain notorious doctors and hospitals may charge over what Medicare mandates. If you reference our previous example with open-heart surgery, you can see just how costly Part B Excess can be if it’s not covered.

Medigap Insurance FL is designed to cover some, if not all, of these gaps. The only Medigap Insurance FL that is guaranteed to cover absolutely every gap is known as Plan F. The only bill Plan F beneficiaries need to pay is the affordable monthly premium. Need a free quote? Visit Medicare Supplements Made Easy today!

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