FAQs on Medicare Insurance & Supplement
Q: What is Medicare and how am I eligible?
A: Medicare is a Federal run health insurance program for people 65 or older, under 65 with certain disabilities, and any age with End-Stage Renal Disease (ESRD). Original Medicare has two parts: Part A (Hospital Insurance) and Part B (Medical Insurance).
Q: What is Medicaid?
A: Medicaid is a joint Federal and state program that helps with medical costs for some people with limited income and resources. Medicaid programs vary from state to state, but most health care costs are covered if you qualify for both Medicare and Medicaid.
Q: What is a Medicare Supplement Plan (Medigap)?
A: A Medicare Supplement Plan is a health insurance plan sold by private insurance companies to fill ‘gaps’ in coverage that are left unpaid by Original Medicare. Medigap can help lower out-of-pocket expenses or cover certain benefits Medicare doesn’t cover.
Q: What are the different plans?
A: There are 11 standardized Medigap Plans (Plan A, B, C, D, F, F+, G, K, L, M, N), that individuals can choose from that offer basic as well as detailed additional benefits per plan. Cost will vary with each Medigap plan because the more benefits in the plan, the higher the cost.
Q: What is the purpose of purchasing a Medicare Supplement Plan?
A: Original Medicare covers only a certain amount of healthcare costs which means there are out-of-pocket expenses that will be your responsibility. A Medicare Supplement plan will help cover the expenses not covered by Medicare.
Q: Do I have to switch my primary doctor?
A: No, if your doctor is a Medicare provider you would be able to keep seeing them. Medicare supplement insurance companies do not have set networks.
Q: How many Medicare Supplement policies do I need?
A: You only need to find one plan that will fit your need and budget. It is illegal for insurance companies to sell you more than one policy.
Q: If I have a preexisting condition, will a Medicare Supplement plan cover me?
A: Possibly. Insurance companies will usually ask for proof of prior coverage before offering coverage for conditions, but there are some instances were it’s not necessary to show proof of previous coverage.
Q: If I am declined for a Medicare Supplement Plan, what should I do then?
A: Each insurance company has their own underwriting standards. Being declined for one insurance company does not mean you will be denied coverage for another company. Our Medicare supplement advisors will guide you in the correct and best plan to fit your needs.
Q: Can Medicare supplement insurance be terminated or canceled at any time for any reason?
A: No. The Federal Government gives protection against the current insured from this happening. However, any insurance company is allowed to terminate your health coverage if you fail to pay premiums, having misrepresentations on your application, the company becomes insolvent, or any other action illegal against the company’s policy.
Q: Will a Medicare Supplement cost less if I purchase directly with an insurance company instead of ABC Healthcare Plans Inc?
A: No. Medicare supplement rates are regulated by the federal government and Illinois Department of Insurance. The rates will be identical whether you purchase the plan through us or the insurance carrier. With ABC Healthcare Plans, our accredited insurance agent will help you with all questions necessary to make the right choice for your needs and budget. The best part, you are NOT OBLIGATED to purchase when you speak with our staff to discuss your options.
Q: Where can I get more information about Medicare Supplements plans and my Social Security benefits?
A: Please feel free to call us at 1-800-707-5795 with any questions or concerns. You can also email us at firstname.lastname@example.org. Or, you can view their sites directly: Centers for Medicare and Medicaid Services – www.medicare.gov
Social Security Administration – www.ssa.gov