• Home
  • Get A Quote
  • Customer Service
  • Refer a Friend
  • About Us
  • Location Map
  • Employee Directory
  • Privacy Policy
  • Contact Us
Call Us CALL US TODAY | (732) 295-5584 | INEAGENCY@GMAIL.COM
Home
  • Home
  • Get A Quote
  • Customer Service
  • What We Offer
    • Annuities
    • Automobile
    • Bonds
    • Business & Commercial
    • Dental
    • Flood
    • Homeowners
    • Life & Health Insurance
    • Limousine
    • Recreational Vehicle
    • Renters
    • Retirement Planning
    • Trucking
    • Watercraft & Boat
  • Blog
  • Resources
    • Secure File Area
    • Refer a Friend
    • Important Links
    • Calculators
    • Free Reports
    • Make a Payment
    • Insurance Glossary
    • News Center
  • About Us
    • About Us
    • Location Map
    • Privacy Policy
    • Event Calendar
  • Contact
    • Contact Us
    • Join Our Newsletter
Auto Insurance AUTO Read More
Home & Flood Insurance HOME & FLOOD Read More
Business Insurance BUSINESS Read More
Life & Health Insurance LIFE & HEALTH Read More
Watercraft Insurance WATERCRAFT Read More
Retirement Planning RETIREMENT PLANNING Read More
Home > Blog > The Benefits of Medicaid Supplemental Plan
THURSDAY, NOVEMBER 12, 2020

The Benefits of Medicaid Supplemental Plan

What is a Medicaid Supplemental Plan? 


With Original Medicare, you usually pay some of the costs for already approved services. Also known as Medigap, Medicare Supplement Insurance is extra insurance you can buy from a private company that helps pay your share of costs. 


Original Medicare unfortunately does not pay the entire cost of covered health care services  and supplies. Medicare Supplemental Insurance helps fill the Original Medicare gaps. This insurance policy assists in paying for remaining health care costs like copayments, coinsurance, and deductibles. 


Coverage Plans


Something important to note is that Medigap supplemental insurance plans are designed to fill Medicare Part A and Part B coverage gaps. Therefore you must have these two types to purchase this kind of coverage. 


Additionally, Medigap plans to not cover prescription drugs. You must purchase an additional stand-alone Part D play if you would like coverage for drugs. 


Cost


Medigap premiums average to about $150 to $200 per month. The price is determined by age, health history, or both. However, with Medigap there are low to none out of pocket costs. The most you will be paying is your premium. A standardized Medigap policy is guaranteed renewable as long as you pay your premiums on time.  


Paperwork 


Another benefit to Medicare is that there is little to no paperwork required to apply. Medigap almost always automatically cuts checks to providers after Medicare. Medigap is affordable, quick, and simple to understand. 


Enrollment


You can purchase Medigap within the first six months after you have signed up for part B and are at least 65 years old. Or if you are already signed up for part B, open enrollment lasts for six months after the day of your 65th birthday. After this time period there is no guarantee you will be able to get coverage. If you miss the enrollment period you may be turned away or charged extra for pre-existing conditions. 


Medigap vs Medicare Advantage Plans 


It is important to not mix up a Medicare Advantage Plan with Medigap. Medicare Advantage plans are a means of gaining Medicare benefits. While a Medigap policy only supplements your original Medicare benefits. 


Additionally, Medicare Advantage plans work like managed care plans you may have experienced during working years. You will have to receive your care from doctors, hospitals, and other providers within the plan's network. While Medigap offers you the choice to visit any doctor that participates in Medicare. 


If you have questions  surrounding Medicaid Supplemental plans, call (732) 295-5584 to speak to an agent about what kind of coverage would work best for you.


Posted 6:49 PM

Tags: medicare advantage plans, medigap, paperwork, cost, insurance, website, health, senior, ocean county
Share |


No Comments


Post a Comment
Required
Required (Not Displayed)
Required


All comments are moderated and stripped of HTML.

NOTICE: This blog and website are made available by the publisher for educational and informational purposes only. It is not be used as a substitute for competent insurance, legal, or tax advice from a licensed professional in your state. By using this blog site you understand that there is no broker client relationship between you and the blog and website publisher.
Blog Archive
  • 2021
  • 2020
  • 2019
  • 2018
  • 2017
  • 2016
  • 2015
  • 2014
  • 2013

  • insurance(32)
  • home insurance(19)
  • flood insurance(18)
  • auto insurance(17)
  • life insurance(11)
  • commercial insurance(11)
  • business insurance(10)
  • insurance new jersey(10)
  • property insurance(9)
  • nj home insurance(9)
  • coastal home insurance(8)
  • nj flood insurance(8)
  • insurance jersey shore(8)
  • seaside(7)
  • disaster(7)
  • homeowners insurance(7)
  • point(7)
  • high end(7)
  • ocean(7)
  • mantaloking(6)
  • new jersey insurance(5)
  • best insurance agency of ocean county(5)
  • nj auto insurance(5)
  • home insurance quotes(5)
  • liability(5)
  • workers comp insurance(5)
  • insurance quotes(5)
  • flood(4)
  • car insurance(4)
  • coastal property insurance(4)
  • bolg(4)
  • health(4)
  • annuities(4)
  • retirement planning(4)
  • ira rollovers(3)
  • ocean county flood insurance(3)
  • affluent home insurance(3)
  • blog(3)
  • top nj insurance agents(3)
  • small business insurance(3)
  • home(3)
  • auto(3)
  • monmouth county flood insurance(3)
  • classic car insurance(3)
  • house insurance(3)
  • new jersey(3)
  • nj home insurance quotes(3)
  • renter's insurance(3)
  • ira plans(3)
  • burial insurance(3)

View Mobile Version
Facebook
Narragansett Bay logo
UPC Insurance logo
Travelers logo
The hartford logo
metlife logo
new jersey skylands insurance logo
progressive logo
facebook logo

Resources

Home About Us Get a Quote Customer Service Newsletter Contact Us
Chamber Certified
trusted choice logo
professional insurance agents logo

Contact Us

location icon
  • I & E Insurance Agency
  • 2900 Route 88
  • Point Pleasant, NJ 08742
  • Phone: 732-295-5584
  • ineagency@gmail.com

This web site may contain concepts that have legal, accounting and tax implications. It is not intended to provide legal, accounting or tax advice. You may wish to consult a competent attorney, tax advisor, accountant or your own financial advisor. EMC Insurance Agency & Financial Services LLC dba I & E Insurance Agency & Financial Services is an Independent Insurance Agency, a Member of the Trusted Choice , Independent Agents of America and member of the ANE Network of Independent Insurance Agents, contact your own advisors before making any decision.

Services offered through independent NON-AFFILIATED ENTITIES

© Copyright. All rights reserved.
Powered by Insurance Website Builder