Medicare Supplement / Medigap

In this article, we explain what the Medicare out-of-pocket maximum really means, how it works across different types of Medicare coverage, and how you can better insulate yourself from unexpected medical bills.

A little over 50% of Medicare Beneficiaries have Medicare Supplement/Medigap Insurance, often called Medigap Insurance. These policies are designed to work alongside your Original Medicare benefits, covering the financial gaps that Original Medicare leaves behind. Historically, beneficiaries had a wide array of lettered plans to choose from, each offering a different level of standardized coverage. This standardization ensures that a Plan G from one carrier offers the same be

While you may know these plans help cover copayments, coinsurance, and deductibles, several lesser-known features make this coverage even more valuable. Understanding these nuances can help you make a more informed decision about your healthcare future. Here are five surprising facts about Medigap that might change how you view your coverage options.

The Medicare enrollment period is a designated time each year when beneficiaries can make changes to their Medicare coverage. This period typically runs from October 15 to December 7 annually. During this time, you can: Switch from Original Medicare to a Medicare Advantage plan. Change from one Medicare Advantage plan to another. Enroll in a Medicare Part D prescription drug plan. Drop your Medicare prescription drug coverage.

MEDICARE SUPPLEMENT vs MEDICARE ADVANTAGE, which option is better? This has been an ongoing battle for decades and will continue for the foreseeable future. It is one of the most common and confusing decisions people face when enrolling in Medicare.

One of the biggest mistakes Medicare beneficiaries make is assuming all Medigap plans cost the same. While benefits are standardized, monthly premiums vary widely by insurance company. For example, two carriers may offer identical Plan G policies, but one could cost $40–$60 more per month. Over the course of a year, that adds up to hundreds of dollars in unnecessary spending. By comparing quotes from multiple companies, you can ensure you’re not overpaying. Working with a

The easiest way to avoid excess charges is to use physicians who accept Medicare assignment. You will never be billed more than Medicare allows for your healthcare services. It’s always a good idea to ask your doctor if they accept assignment before you make an appointment. Don’t forget to ask the same question of any Medicare provider, such as lab facilities and home health care companies. You can also find providers in your area that participate with Medicare using the Med

Looking for the Best Medicare Supplement Plan? The best plan for you is not always the cheapest plan. However, working with a Certified Medicare Planner like Michael Braden at Braden Medicare Insurance is a great start,

Please keep an open mind when evaluating quotes from each carrier. There are well-known insurance companies and those that are less well-known; however, all Medigap plans are standardized, and carriers must offer the same coverage. To compare insurance carriers, consider their financial rating to assess their reliability. Work with an Independent Medicare Broker in your area to ensure you are maximizing your discounts.

However, some differences between the G and N can impact your healthcare expenses and decision about which is more suitable for you. In this article, we’ll compare Medigap Plan G vs Medigap Plan N to help you decide what best suits your needs. 

Everything you need to know about Medicare Supplement Insurance plans, including how to change plans and keep your premiums as low as possible which is very important as we age.

Perhaps the most significant benefit is choice and portability. A Medicare Supplement or Medigap plan allows you to choose ANY Doctor, go to ANY Hospital ANYWHERE in the United States, and you are covered, as long as the Doctor and Hospital both accept Medicare's Assignment/Fee Structure.

A Medicare Supplement plan is an excellent option for people who prefer the government-run Medicare program but want a few more of their costs covered. This article explains what a Medicare Supplement plan is, how it works, the benefits each plan offers, and mo

The best available rate may depend on factors such as your age, gender, smoking status, marital status, and location. To ensure that you are getting the best available rate, you may want to check with your SHIP. If you purchase a Medigap during your open enrollment period, policies are limited in their ability to exclude coverage for pre-existing conditions, meaning conditions you had before you enrolled.

Plans F and G are the most popular Medigap plans because they take away ugly healthcare billing surprises. High-deductible F and G Medigap plans do the same thing, but choosing these plans means you have to have enough savings to pay the annual deductible upfront.

Original Medicare includes Medicare Part A  (Hospital Insurance) and Medicare Part B (Medical Insurance).  The Government pays for 80% of all Medicare-covered and Medically Necessary procedures, while you, the Medicare Beneficiary, pa for the other 20% of health services not paid for by Medicare. You typically pay for services as you receive them. When you get services, you’ll pay a deductible at  the start of each year, and you usually pay 20% of the cost of the  Medicare-ap

Currently, and since 2020, Medicare Supplement Plan G has been the most popular and the most purchased Medicare Supplement plan, and it is not even close. As of January 1, 2020, Medicare Supplement Plan F was the most popular plan; however, it is no longer available to anyone who was not 65 before 1/1/2020. Since then, Plan G has taken over.

For many people, High Deductible Medigap Plans (HDG and HDF) may make sense, but they would not be my first choice for most Medicare Beneficiaries. The appeal of a High-Deductible Medicare Supplement/Medigap plan is its lower premiums, some of which can be under $50 per month. But, instead of having the regular $240.00 Part B Deductible, the Deductible is $2,800. But that in itself is misleading.

Here at Braden Medicare Insurance, it is almost an oxymoron to say the words Medicare and Reader's Digest Form in the same sentence. That is simply because Medicare is so broad and complex that it is challenging to encapsulate the concepts in a book, let alone a chapter, and have them make sense. In this article, we have done our best to present the condensed Reader's Digest version of Medicare. We hope you find the article helpful and worthwhile.

Original Medicare has always consisted of Two Parts, Medicare Part A and Medicare Part B, since Lyndon Johnson signed it into law.  Then, under Bill Clinton, Medicare introduced the third part of Medicare, Medicare Part C. Initially referred to as Medicare Choice at the time, it later became known as Medicare Advantage.   Lastly, George W. Bush added the final component of Medicare, Medicare Part D, which covers Prescription Drug plans.

When deciding which plan to enroll in, your first step should be to choose between Medigap plan vs. Medicare Advantage plans.