Medicare Supplement
Note: A Medicare Supplement plan and a Medigap plan are exactly the same plan. Both words mean the same thing.
A Medicare Supplement Policy is a private Health plan that is designed to pick up the coverage gaps in your Original Medicare. Under your Original Medicare you will receive a Red, White and Blue Card with Part A and Part B. You must have a date next to Part A and Part B for both parts to be active.
Original Medicare has coverage gaps.
The coverage gaps are as follows:
Part A
Has a deductible for all In-Patient Hospital Stays. The deductible changes every calendar year, and is around $1500 per benefit period. A benefit period basically means per admission.
Part B
Has a calendar year deductible plus 20% of the bill. The Part B annual deductible changes every year, and is approximately: $200 per year plus 20% of the Part B bills.
Plan F
A “Plan F” Medicare Supplement will pay your deductibles and the 20% Medicare does not pay giving you full coverage. Meaning 100% coverage for all Medicare approved charges.
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