Jan. 11, 2017 – Kewaskum, WI – What is a Medicare Advantage Plan? What is a Medicare Supplement Plan?
When talking with friends, you hear answers like, “I only pay a couple of dollars a month for my plan,” or “I never get a bill when I go to the doctor.” How do you know which plan is right for you?
Carrie Weyer of the Silbernagel Group Insurance Services LLC provides some information for those considering or are in the Medicare program.
Medicare Advantage plans are offered by private insurance companies approved by Medicare and must offer the same services as Original Medicare. Many Medicare Advantage plans also offer additional benefits that Original Medicare does not offer like vison, dental, hearing, or routine foot care.
These plans usually have a low cost premium. As you utilize services for covered benefits, you pay a copay. When you reach the out-of-pocket limits of the policy, the plan pays 100% of your covered services for the remainder of the calendar year. Make sure all your doctors are in the plans doctor network as these plans utilize a network of doctors and hospitals. These plans also integrate coverage for prescriptions. You can apply for a Medicare Advantage plan when you are first eligible or during the Annual Enrollment Period, Oct. 15 – Dec. 7.
Medicare Supplement plans are offered by private insurance companies approved by Medicare and help fill the gaps in your Medicare coverage. Medicare Supplement plans pay after Original Medicare and there are virtually no claims or paperwork for you to submit.
These plans give you the freedom to choose any doctor in the United States that accepts Medicare. In Wisconsin, plans offer optional riders that can be added to your policy. A rider is an additional benefit for an additional cost. These riders pay an additional amount toward your medical bills that would otherwise be your responsibility like deductibles and foreign travel. Some companies offer value added services which are a benefit to you for having the plan. Medicare Supplement plans do not offer prescription drug coverage.
You need to have coverage for medications from another credible source. Medicare Supplement plans can be purchased anytime during the year. Eligibility is based on your Part B effective date and plans may be underwritten.
You are in the Medicare program regardless of which plan type you choose. You must continue to pay your Medicare premiums. Choose the plan that fits your lifestyle best. Carrie Weyer has helped many Kewaskum clients navigate these options. They can be confusing and she is happy to assist you. She is a Licensed Insurance Agent with The Silbernagel Group Insurance Services LLC.
The Silbernagel Group Insurance Services LLC and Carrie Weyer are not connected with the Federal Medicare program.
Carrie Weyer, Professional Insurance Agent
The Silbernagel Group
114 Main Street, Kewaskum, WI 53040