Medicare Supplement Reviews

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You purchase Medicare Supplement policies from private companies. These plans coordinate with Original Medicare and help pay health care costs like co-payments and deductibles, which Original Medicare does not cover. Medicare Supplement plans are standardized and labeled A through N. Since they are standardized, no matter which insurance company you buy it from, the benefits provided in a Plan N, for example, are exactly the same. You can find a chart that outlines the benefits of each plan on the Medicare website.

When you have a Medicare Supplement plan, you can go to any provider who accepts Medicare, and no referrals are needed like may be required in a Medicare Advantage plan. Medicare Supplement policies are also guaranteed renewable. This means even if you have health problems, as long as you pay your premiums on time, the insurance company can’t cancel that policy. Medicare Supplement policies generally have lower out-of-pocket expenses than Medicare Advantage plans.

Medicare Supplement plans do not offer additional supplemental benefits as many Medicare Advantage plans do. They also do not cover prescription drugs, so you will also have to purchase a stand-alone Part D plan. When you are first eligible for Medicare (and certain other special situations), you are given Guarantee Issue rights for a certain amount of time. This means that the insurance company must sell you a policy regardless of pre-existing conditions and may not increase your rates or decline you for health reasons.

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