Medicare Supplement Plans

Understanding Medicare Supplement Insurance Plans

At Mountaintop Insurance Solutions, we know that navigating through Medicare can be overwhelming. That's why we are here to help you understand the ins and outs of Medicare Supplement Insurance Plans, also known as Medigap plans. These plans are designed to help pay for some of the out-of-pocket costs that Original Medicare doesn’t cover, such as copayments, coinsurance, and deductibles.

Medicare Supplement Insurance Plans are provided by private insurance companies and can be a valuable addition to your Medicare coverage. These plans help to fill the gaps in Medicare coverage, providing you with additional financial protection and peace of mind.

The Features of Medicare Supplement Insurance Plans

• Helps Cover Out-of-Pocket Costs: Medigap plans cover some of the out-of-pocket costs that Original Medicare doesn't, including copayments, coinsurance, and deductibles.
• Standardized Plans: All Medicare Supplement Insurance Plans are standardized, which means each plan offers the same basic benefits regardless of the insurance company offering it.
• Freedom to Choose Your Providers: With a Medigap plan, you have the freedom to choose any doctor or hospital that accepts Medicare.
• Guaranteed Renewable: As long as you pay your premiums, your Medigap policy is guaranteed renewable each year.

How Medicare Supplement Plans Work

Medicare Supplement Plans work alongside your Original Medicare Parts A and B coverage. While Original Medicare pays for many healthcare services, it doesn’t cover everything. That’s where Medigap plans come in. They help pay for the out-of-pocket costs that you would otherwise have to pay yourself, such as:

• Medicare Part A and Part B deductibles
• Copayments and coinsurance
• Excess charges
• Foreign travel emergency care

Medicare Supplement Plan vs. Medicare Advantage Plan

It's essential to understand the difference between a Medicare Supplement Plan and a Medicare Advantage Plan. A Medicare Supplement Plan, or Medigap, works with your Original Medicare coverage to help cover additional costs. On the other hand, a Medicare Advantage Plan is an alternative to Original Medicare and offers all your Medicare Part A and Part B benefits through a private insurance company. While both types of plans offer valuable coverage, they serve different purposes and have distinct features. Understanding these differences is crucial in making the right choice for your healthcare needs.

Enrolling in a Medicare Supplement Insurance Plan

To enroll in a Medicare Supplement Insurance Plan, you must first be enrolled in Medicare Parts A and B. The best time to enroll in a Medigap plan is during your Medicare Supplement Open Enrollment Period, which starts the first day of the month you turn 65 and are enrolled in Medicare Part B. During this period, you have a guaranteed right to buy any Medigap policy offered in your state, regardless of your health status. After this period, you can still apply for a Medigap plan, but you may be subject to medical underwriting, which could affect your eligibility and premiums.

Why Choose Mountaintop Insurance Solutions?

At Mountaintop Insurance Solutions, we are dedicated to helping you find the best Medicare Supplement Insurance Plan to fit your needs. Our licensed insurance agents are here to guide you through your Medicare journey and ensure you understand all your options. We offer a variety of plans to choose from, so you can find one that provides the coverage you need at a price you can afford. Located in Bend, Oregon, we are proud to serve our local community and help our clients make informed decisions about their healthcare coverage.