Original Medicare is administered by the federal government and covers Part A (inpatient) and Part B (outpatient). Original Medicare has no out of pocket limit. This is the main reason people enroll in Medicare Advantage or a Medicare supplement.
Medicare Advantage, also known as Medicare Part C launched in 1997 is administered by insurance companies and is regulated by the federal government and covers Part A (inpatient) and Part B (outpatient).
Medicare Advantage plans may also include Medicare Part D (prescription drug coverage) in addition to Part A and Part B. Some plans may cover additional services such as vision, hearing and dental.
Medicare Supplement insurance, also known as Medigap or MedSup is offered through insurance companies and may cover costs such as Medicare coinsurance, copayments and deductibles. These plans do not cover prescription drug coverage. One may purchase a stand alone Part D coverage along with plan.
With Medicare supplements the plan is exactly the same no matter which company you go with. So, when choosing a plan you’ll want the plan the prices out the lowest from whichever insurance company. We recommend Plan G, as Plan G has the strongest coverage of all the plans.
Medicare supplements can increase their premium at any time, so it makes sense to get your supplement as soon as possible and lock in at a lower monthly premium. You may submit your application 3 months prior to the month you turn 65.
|Description||OFFERED BY MEDICARE DEDUCTIBLE||Deductible|
|Part A||hospitalization||in patient||standard||$1,408|
|Part B||medical expenses||in or out patient services, equipment and supplies||standard||$198|
|Part C||Medicare Advantage||Includes Part A and Part B and usually Part D||no (private companies only)|
|Part D||prescriptions||generic, brand and non-formulary||optional||$435|
|HOSPITALIZATION||SKILLED NURSING FACITY CARE|
|61-90||$352 a day||21-100||$176.00|
|91+||$704 a day||100+||100%|
|Services, equipment and supplies||$198 Plus 20% (no maximum out of pocket)|
|Blood||First 3 pints 0%, then 100% of the next $183, then 20% of the remainder|
|Home Health Care||$0|
|Basic, Including 100% Part B coinsurance||Basic, Including 100% Part B coinsurance||Basic, Including 100% Part B coinsurance||Basic, Including 100% Part B coinsurance||Hospitalization and preventative care paid at 100%; other basic benefits paid at 50%|
|Skilled Nursing Facility Coinsurance||Skilled Nursing Facility Coinsurance||50% Skilled nursing facility coinsurance|
|Part A Deductible||Part A Deductible||Part A Deductible||50% Part A Deductible|
|Part B Excess (100%)|
|Foreign Travel Emergency||Foreign Travel Emergency||Out-of-pocket limit $5,120; paid at 100% after limit reached|
|Hospitalization and preventative care paid at 100%; other basic benefits paid at 75%||Basic, Including 100% part B coinsurance||Basic, Including 100% Part B coinsurance, except up to $20 copayment for office visit, and up to $50 copayment for ER|
|75% Skilled nursing facility coinsurance||Skilled Nursing Facility Coinsurance||Skilled Nursing Facility Coinsurance|
|75% Part A Deductible||50% Part A Deductible||Part A Deductible|
|Foreign Travel Emergency||Foreign Travel Emergency|
|Out-of-pocket limit $2,560; paid at 100% after limit reached|
Disclaimer: Medicare Supplement insurance plans are not connected with or endorsed by the U.S. government or the federal Medicare program. Plans are not available in all areas and may be subject to underwriting; terms and conditions may apply.