CA License 0D68494

8 Good Reasons to Buy a Medicare Supplement

Although not all Medicare Supplement insurance plans pay for every medical cost excluded by Medicare, here are some reasons to consider getting a Medicare supplemental policy.

See how our Medicare Supplement plans can cover you in these cases.

1. If you spend one night in the hospital without Medicare Supplement coverage, it will likely cost you $840 (the Medicare hospital deductible).
   
   
2. While traveling abroad, if you are sick or hospitalized, you will need to pay 100% of all costs because Medicare does not have foreign emergency medical coverage.
   
   
3. To date, Medicare has no prescription drug benefit.
   
   
4. Medicare has limited coverage or does not cover many medical services like routine check-ups, cholesterol screenings, hearing tests, and eye exams.
   
   
5. Even for the services that Medicare does cover, you may have to pay up to 15% of the bill because doctors and hospitals can charge more than what Medicare finds is "reasonable."
   
   
6. If you don't buy Medicare Supplement coverage within 6 months of enrolling in Medicare Part B, bad things can happen: you may later be declined, you may be charged significantly higher premiums for pre-existing conditions, or coverage for your pre-existing conditions may be limited.
   
   
7. As long as you keep paying your Medicare Supplement premiums, the insurance company must renew your policy, regardless of your health. The insurer, however, may either change premium rates or benefits by class or may terminate coverage at certain ages.
   
   
8. All Medicare Supplement policies come with a 30-day "free look" – if, within 30 days of purchasing a Medicare Supplement policy, you decide you don't want it, you can get a full refund.

What's Covered by Medicare Parts A and B

Medicare consists of two parts:

1. Part A (Hospital Insurance) helps pay for:
   
   
   • Inpatient hospital care,
   • Some skilled nursing facility care,
   • Hospice care, and
   • Some home health care.
     
     
2. Part B (Medical Insurance) helps pay for:
   
   
   • Doctors' services,
   • Outpatient hospital care, and
   • Some other medical services that Part A doesn't cover (like some home health care).

The following costs are NOT covered by Medicare Part A or B (however, a Medicare Supplement insurance plan may help you pay for some of these services):

Part A and B Hospital Deductibles

If you need to stay in the hospital, you will pay the following amounts based on how long you need to stay in the hospital:

• $1,024 total for days 1 through 60
• $256 per day for days 61 through 90
• $512 per day for days 91 through 150
• All costs for each day beyond 150 days

Part A and B Other Deductibles

You will pay:

• 20% of the Medicare-approved amount for most covered services
• 50% of outpatient mental health treatments and the co-payment for outpatient hospital services
• 5% of the Medicare-approved amount for inpatient respite care

Part B Excess – Above Medicare's Approved Amount

Under federal law, doctors who don't accept "assignment" (take Medicare's approved amount as payment in full) may charge up to 15% more than the approved amount. You will pay this excess amount.

Outpatient Prescription Drugs

You will pay the entire cost of prescription drugs.

Foreign Travel Emergency

You will pay the entire cost of emergency care while traveling in a foreign country.

Skilled Nursing Coinsurance

You will pay $128 per day for days 21 through 100 per stay in a Skilled Nursing Facility plus all costs beyond the 100th day.

Preventative Care

You will pay the entire cost of routine yearly check-ups and tests (such as routine yearly check-ups, serum cholesterol E and screening, hearing tests, diabetes screening, and thyroid function tests).

You will pay for the first 3 pints of blood.