Medicare Supplement

Understanding Medicare Supplements
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Benefits of owning a medicare supplement plan

LOW OR NO OUT-OF-POCKET COSTS

Your Medicare Supplement works with both Medicare Part A and B to minimize your share of health care costs. Therefore, unexpected medical events are not likely to impact your financial health. Additionally, as Medicare deductibles, co-payments and coinsurance increase, your Medicare Supplement benefits also increase to help meet your eligible expenses (depending on the plan you choose).

NO NETWORKS AND NO NEED FOR REFERRALS

Keep your doctors and hospitals. Any health care provider that accepts Medicare patients must, by law, accept your accompanying Medicare Supplement insurance plan. You do not have to worry about working within limited provider networks or needing to get pre-authorization or referrals in order to see specialists.

RARELY RECEIVE A BILL FOR COVERED SERVICES

When your health care providers accept Medicare, they bill Medicare directly for the approved services. Medicare pays their share and your Medicare Supplement plan pays the rest. The whole process is electronic so your claims are paid quickly. The entire process is streamlined to prevent headaches for you.

ALL MEDIGAP PLANS ARE STANDARDIZED

Every medicare supplement policy must follow both federal and state laws designed to protect you, and it must be clearly identified as "Medicare Supplement Insurance." Insurance companies can only offer you a "standardized" policy identified in most states by letters. This is why its important to work with an Independent agents, like The Funk Agency, who will shop around to get you the best price. Best of all, our services are completely free.

TAKE YOUR COVERAGE TO ANY STATE IN THE U.S. AND OVERSEAS AS WELL!

Just like Medicare, your Medicare Supplement insurance covers your health care needs anywhere in the United States. That way, you can visit family and friends or long-term snow-birding anywhere you choose. Additionally, some Medicare Supplement plans provide medically necessary and emergency care outside of the country, up to a maximum of $50,000.

GUARANTEED RENEWABLE COVERAGE FOR LIFE

Your coverage renews as long as you pay your required premiums. Your insurance company must honor your coverage for as long as you need to keep it and cannot increase your premiums on an individual basis or cancel your coverage for any reason.

Additionally, your Medicare Parts A and B and supplement benefits are not impacted by the annual Medicare open enrollment or the Affordable Care Act annual election period each fall. If you like your coverage and plan, you simply keep it and roll it over every year. There is nothing your have to do other than continue to pay your premiums.