MediGap Insurance
Sometimes called a “Medigap” policy, Medicare Supplement Insurance is sold by Medicare approved private companies, and can help pay for some health care costs that Original Medicare doesn’t cover, like copayments, coinsurance, and deductibles. When you purchase Medicare Supplement insurance, you don’t replace or cancel your Original Medicare. You pay the private insurance company a monthly premium for your Medigap policy in addition to the monthly Part B premium that you pay to Medicare.
Standardized Plans
Medicare Supplement plans are standardized. Plans have letter designations (A-N) indicating the benefits included with each plan. The benefits from plan to plan are the same for every insurance company, so a Plan F from one company has the same medical coverage as a Plan F from any other company. The difference is in the company, the quality of service, the price, and in some cases additional benefits.
In order to be eligible for Medicare Advantage, you must already be enrolled in both parts of Original Medicare (Part A and Part B). If you have a Medicare Advantage Plan, you can apply for a Medigap policy, but make sure you can leave the Medicare Advantage Plan before your Medigap policy begins.
Hoffman Insurance & Retirement Planning is contracted with every major insurance carrier in North Carolina. Let us find you the best plan to meet your medical needs. We will match your current doctors and pharmacies to the best provider network in your area to ensure you receive the most benefits at the lowest cost to you.