Original Medicare, also known as Medicare Part A and Part B, only covers 80% of the total cost of approved services and procedures for hospital and medical care. The other 20% of your health care costs are your responsibility. This is where Medigap comes in. By purchasing a supplemental Medigap plan, you can cover the remaining costs of your care and receive the services and treatments you need. Please contact SBI Benefits to meet with our insurance agent and find out more about Medicare Supplemental Plans in Las Vegas and Sparks, Nevada!
What Is a Medicare Supplemental Plan? +
A Medicare Supplemental Plan, or Medigap, is an additional insurance policy that you can purchase from an independent, private insurance company to cover the remaining 20% of your health care costs. There are several plan options for supplemental care available to meet your needs, and our insurance agent will be happy to discuss your options with you to find the plan that is right for you.
Supplement vs. Advantage +
- Requires you to seek “in-network” care from professionals and institutions recognized by your plan’s network.
- Often already has a variation of prescription drug coverage (Medicare Part D) included in the plan.
- Is purchased entirely through private institutions or through employers in partnership with private insurance companies or providers.
Medigap supplemental insurance is designed more for those who wish to have their risk of out-of-pocket costs reduced, who want accessible and constitution nationwide Medicare coverage and desire a more straightforward and “hands-off” relationship with their insurance policy. A Medigap plan:
- Does not rely on a specific network of doctors and hospitals.
- Gives you the option of choosing your own prescription drug coverage plan under Medicare.
Which type of plan you choose depends on your lifestyle, health history, financial stability and personal preference. Our insurance agent can help you stay fully informed of every available option so that you can choose the best plan for your needs.
What Does Medigap Cover? +
There are ten different lettered Medicare supplement insurance (Medigap) plans: A, B, C, D, F, G, K, L, M and N. Medicare supplement insurance programs cover 100% of Part A coinsurance. Part B benefits and coverage vary from plan to plan depending on how comprehensive the benefits package is. The cost of the plan will also vary from company to company. However, as Medigap is provided by private insurance companies they are required by law to offer the same basic benefits packages per lettered plan.Medigap generally does not include certain hospital and medical services such as long-term stays, dental care, vision care, etc. under its Medicare coverage. Medical technology such as hearing aids and prescription glasses, etc. are not typically covered. Please speak with an insurance agent to determine your benefits and coverage under the different plans available to you.
Qualifying for Medigap +
- Are enrolled in Original Medicare (Medicare Parts A and B)
- You are a natural citizen or been a permanent resident of the United States for at least 5 years.
- You are 65 years old.
If you were eligible for Medicare plans before age 65 due to disability or disease you may not be eligible to purchase a Medicare supplemental health insurance policy. However, there are still some Medigap plans and benefit packages that may be available to you. Please consult with our insurance agent for more information on supplemental Medicare coverage and which plan is right for you.
Choosing the Right Plan for You +
When To Get a Supplemental Plan? +
Drug Plans and Medigap +
How To Choose a Medigap Plan? +
We recommend that you consult with our insurance agent as well as other agents, agencies and insurance companies that specialize in Medicare so you can make the most informed decision possible.