T.W. Morgan Insurance Services offers Traditional Medicare Supplement Insurance Plans to our clients in the States of Oregon, Washington, California and Nevada. The A through N plans are referred to as Original Medicare Supplement or Medigap Coverage
The Benefits of Owning a Medicare Supplement Insurance Policy
With all the choices you have for your health care coverage, it’s important to understand how each one works, its benefits and your share of the costs. Here’s a brief look at how Medicare supplement insurance differs from other coverage, including Medicare Advantage Plans.
Low Out-of-pocket Costs
Every year, your Medicare supplement insurance policy benefits coordinate with your Medicare benefits to help you meet your eligible health care expenses, depending on the plan you choose. What’s more, you can be sure your benefits won’t decrease.
Find out how other health plans work before joining. Some annually change their benefit structure, which can decrease your benefits and increase your out-of-pocket costs, so budget wisely.
Keep Your Doctors and Hospitals
With your Medicare supplement insurance policy, you alone select all your health care providers to use whenever and wherever you choose. You don’t have to worry about your doctor or hospital leaving a provider network at any time as long as they accept Medicare patients. And, you never need a referral to see a specialist unless the doctor requires it from the referring physician, not the insurance company.
Other health care plans may have local networks that possibly could prevent you from receiving care from the people you’ve grown to know and trust. Read each plan closely. Some let you see anyone as long as the provider accepts the plan’s payment terms. Others let you go outside the network, but you pay for services yourself and usually pay more for them. Providers can leave and join networks.
Coverage is Guaranteed Renewable
Your Medicare supplement insurance policy cannot be cancelled. It will be renewed as long as you pay the premiums on time and make no material misrepresentations (premiums are subject to change).
Contracts between the government and some health plans are reviewed annually. As a result, plans may change or not be renewed, forcing members to choose another health care option.
Providers Accept Patients with Medicare Supplement Insurance
Your Medicare supplement policy enables you to see any doctor or provider who accepts Medicare patients.
On the other hand, not all providers in a health plan network take new patients or accept its payment terms. Talk with your doctors about their relationship with a health plan before joining.
Your Coverage Goes with You
Just like Medicare, your Medicare supplement insurance covers your health care needs anywhere in the United States. Some Medicare supplement insurance plans even provide limited medically necessary emergency care outside the country. That way, you can confidently travel or live part of the year anywhere you choose
With some other health care plans, there may be charges for care no matter where you go. Carefully check all the plan’s travel rules and restrictions.
Guaranteed Issue Coverage
Sometimes when you apply for Medicare supplement insurance coverage, you don’t answer any questions about your health and your policy is guaranteed issue. One time is during your Medicare open enrollment period. Some other times are when:*
- You or your Medicare Advantage/Private Fee for Service plan move out of the service area
- Your employer discontinues its group retiree health coverage
- You leave a Medicare Advantage plan within a year of joining and return to Medicare *For more situations, see the Guide to Health Insurance for People with Medicare.
Benefits offered in all the Medicare supplement policies have been standardized so they can be easily compared between insurance carriers. Eleven plans are available identified as Medigap Plans A through N (except in MA, MN and WI) and carriers choose which plans they’ll offer. Every insurance company must make Plan A available.
The following chart provides a checklist of benefits by each plan so you can compare (not all plans may be available in your state). All plans include these basic benefits:
- Medicare Part A hospital coinsurance
- Medicare Part A extended hospital coverage (365 days after Medicare benefits end)
- Medicare Part A hospice outpatient prescription drug copayment and inpatient respite care coinsurance
- Medicare Part B coinsurance*
- Medicare Parts A and B first three pints of blood
To learn more about Medicare Supplement plans offered by our agency, call our office at 503-245-3345 or Toll Free 888-821-4717. We offer several leading companies dedicated to serving the Medicare Supplement market. Rates change annually so contact us to learn which company will offer the best rates based on your age, use or non use of tobacco and gender status.