Americans Seniors: There’s a new Medicare Supplement Policy that will cover 100% of co-pays and deductibles, but the insurance companies won’t tell you about it. Check if you qualify for a supplement policy online in just 60 seconds.
There is one simple truth that those of age 64 and older must know…
Original Medicare (Parts A & B provided by the government) is designed to be the minumum coverage. With original Medicare, patients are at risk of huge out-of-pocket medical bills for care that isn’t covered:
➡️ Hospital Visits (Copays & Deductibles)
➡️ Doctor Visits (Copays & Deductibles)
➡️ Preventative Care (Copays & Deductibles)
➡️ Skilled Nursing Facility Care
➡️ First 3 Pints of Blood
➡️ Foreign Travel Emergency Care
The official government site for Medicare estimated that the yearly Out-of-Pocket Costs for people in Good Health in 2019 was $7,850, and expenses are expected to climb in 2020.
How to Get Protected From Out-of-Pocket Costs?
A Medicare Supplement insurance policy, commonly referred to as “Medigap,” is a private form of medical insurance that helps to cover the costs of healthcare that Medicare doesn’t cover. You can buy a Medigap policy for monthly premiums that will pay for the Original Medicare deductibles, co-payments, co-insurance, and other costs when they arise.
When you buy a policy, you have 10 standardized plan options to choose from in most states. While these options are regulated by the federal government, you buy the plans from private insurance companies, not the government.
Government Cuts to Medicare Supplement
Starting in 2020, Medigap policies can no longer cover the deductible for doctor visits and seniors will have to pay for it themselves. Their goal is to make patients think twice about using medical services as they will have to pay something for them. This can be a dangerous mentality to have when considering ones health.
NOTE: New for 2020: a High Deductible Plan G Options – Take advantage of this new plan designed for the recent changes in Medicare.