04/03/2020 by Kevin Kaye 0 Comments
5 Advantages of Medicare Supplements
I've been helping people with their Medicare supplements for 35 years. Over the years, I've found healthy people are attracted to inexpensive insurance. It's probably because they assume their good health will continue forever. Unfortunately, when you do have a serious illness you don't want cheap insurance, you want good insurance. The type of insurance that gives you peace of mind knowing that your insurance company will pay the big bills, not you.
With that in mind, here are 5 Benefits of Medicare Supplements You Probably Don't Know About.
#1 The first advantage is Medicare doesn't utilize a network of hospitals and doctors that you must receive your care from. As long as the hospital and/or doctor accepts Medicare you can use them without any "pre-approval" or "referral." 96% of all primary care physicians accept Medicare.
#2 You have the ability to choose your prescription drug plan from ANY company. You're not required to use the same company for your prescriptions as you use for hospital and doctor care. This means that every year during the Annual Election Period, you can choose from all of the available plans in your area, thus ensuring that you have the best plan for the prescriptions you take.
#3 Most Medicare Supplement plans don't have copays when you see the doctor. Plan N is the exception. With Plan N you are subject to a $20 copay for office visits and a $50 copay for emergency room visits that don't result in an inpatient hospital admission. So, with a Medicare Supplement, you don't get surprised by potential copays amounting to 100's or 1000's of dollars.
#4 It's easier for you to budget your monthly healthcare expenses with a Medicare Supplement. Simply pay your monthly insurance premium. And after you've met the Medicare Part B deductible of $198, you're done. No surprises.
#5 You can switch to a different company anytime throughout the year, subject to health underwriting. You're not limited to an annual enrollment period like the Medicare Advantage plans.
For a more in-depth discussion of this topic, you can click on this link to be taken to the page where you can find two short videos. One will explain the differences between "Medicare Advantage plans and Medicare Supplements". And the other video will explain "How to choose the best Medicare Supplement plan."