Fri, Jun 4, 2021

The biggest advantage of a Medicare Supplement? No Surprises.

Medicare only covers part of your expenses, so it’s important to know exactly how much you’ll pay to cover the gap.

Not sure you really need a Medicare supplement? Consider whether you can afford a 20% copay for a $50,000 knee replacement (that’s $10,000!). Or could you afford 20% of an unexpected chemotherapy therapy? 

The fact is, most of us can’t pay that much out of pocket, at least not easily. So yes, you need insurance coverage to fill the gap in Original Medicare. Also called a “Medigap” policy, these plans are a wise investment to protect against catastrophic medical spending.
What is the downside to not having supplemental coverage? What are the risks if you only have Medicare Parts A, B, and D?

When Americans reach retirement age and start their Medicare coverage, many are shocked to realize that Medicare is not free. You are required to pay Medicare Part B premiums, but again, that’s just the beginning and only covers 80% of approved charges.

That’s why having only Original Medicare with no supplemental coverage is a risky choice.

The gaps in Medicare are substantial, leaving you to pay for expensive deductibles and 20% of all your outpatient coverage. If you don’t have a Medigap policy, or a Medicare Advantage Plan, you’ll have to pay the difference yourself.

The Good News — You Have Options

The best thing about covering the Medicare gaps is that there are options for everyone no matter your budget. FirstCommunity offers Medigap plans which tend to cost a bit more but have more complete — and more predictable — coverage, with absolutely no copays. 
Medicare Advantage plans are also available. These are a different type of coverage which can cost as low as $0 monthly premiums — but they can still leave you with those expensive copays.

The fact is, the whole Medicare landscape is confusing. Similar-sounding terms, competing policies and other factors can lead to many questions about what is right for your exact situation. 
Aside from affordable, predictable monthly expenses — and NO COPAYS OR SURPRISES — perhaps the biggest advantage FirstCommunity offers is simple, straightforward explanations from friendly, knowledgeable customer service representatives. We are a local Medicare Supplement healthcare company affiliated with Huntsville Hospital, and we enjoy talking or meeting in person with North Alabama seniors. 
We make your options easy to understand, and there is never any pressure to make a decision. Whether you are just getting ready to sign up for Medicare, or interested in learning more about what your options are for changing your plan, we would love to have a conversation. Just call us at 256-532-2783 or 1-800-734-7826 toll free and we’ll take all the time you need to understand your options — and avoid the costly mistake of the wrong policy for your situation.

For a good explanation of Medicare basics visit our overview page here —  https://firstcomm.org/medicare


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