In this video, Empower’s Life and Health Insurance Agent, Anthony Butler, will walk through some of the basic features of a Medicare Supplement Plan.
What is Medicare Supplement Insurance?
Medicare Supplement Plans, also known as Medigap, provide extra health insurance purchased from a private company. It covers the “gap” between what Original Medicare can and cannot pay. For instance, deductibles, co-payments, or healthcare if you travel outside the United States. Unlike Medicare Advantage plans, Medigap is used in conjunction with Original Medicare.
There is much more information on the pros/cons and rules for Medicare Supplement Insurance, however the purpose of this post is to give a basic overview of Medicare Supplement features.
For a more in-depth examination of Medigap plans, read the following Empower Brokerage articles:
Video Transcript:
Good afternoon. I’m Anthony Butler.
I want to explain to you a little bit about supplement plans and their nature. The supplement plans, here in the continental United States, are standardized. They are uniformed and governed by CMS (Centers for Medicare Services). This means that a supplement plan from any carrier are all going to work the same. If you are Plan F, you must meet the standards to be in a Plan F. If you are a Plan N or Plan G, you must meet those standards.
So, despite the label on the Plans and the price, they all still function the same. A supplement plan allows you to receive services from any provider or facility that accepts Medicare, and is taking new clients. You are not restricted by a network or a group. You don’t require referrals if you need to see a specialist.
These plans are considered robust and they are very portable. Meaning, if want to load up the RV and go on a trip across the country, and you think you might need to see a doctor, all you need to do is find one who takes Medicare and is accepting new patients.
As always if you have any questions about these plans, contact your agent here at Empower Brokerage. I’m Anthony Butler. Have a great afternoon.
Conclusion
To learn more about Medigap/Medicare Supplement Plans, call Empower today and let us help you with your Medicare questions.
Get an instant quote by clicking HERE. Call 1-888-446-9157 to speak to a licensed insurance agent.