Medicare Supplemental Insurance

Oklahoma Medicare Supplements Insurance

Buying Medicare supplemental insurance can be confusing and frustrating if you don’t have someone on your side that knows the insurance business.

Our goal is to help you with your insurance needs. Our promise is to help educate you about medical supplemental insurance…We provide free consultations. We make certain that you have service after the sell. We help at renewal time. We are Oklahomans who live and work in Oklahoma and are always available to come to your home or office to assist you with your needs

Get a no-obligation Medicare Supplemental Insurance Quote from AASK Insurance.

Medicare Supplemental Health Care Plans

Medicare supplement health care plans are sold by private companies.

There are 12 standard Medicare supplement health care policies— named plan A – plan L.

Some Medicare supplement health care companies offer a “high deductible option” on Medicare supplemental health care plans F .

In addition to the standard Plan A-L Medicare supplement health care policies, Medicare SELECT is a type Medicare supplement health care policy that can cost less than standard Medicare supplemental. However, you can only go to certain doctors and hospitals for your care. Check with your individual state insurance department to find out if Medicare SELECT plans are available in your state.

Each plan offers different Medicare supplement health care benefits, fills different gaps in Medicare and varies in price. However, all Medicare supplement health care plans must cover certain basic benefits.

No matter which insurance company offers the Medicare insurance, all plans with the same letter designation cover the same benefits. For example, all plan F policies covers up to part B excess charges, no matter who sells the Medicare supplement health care policies. However, the premiums may vary.

Study all the Medicare supplemental health care plans before deciding which is best for you. Each Medicare supplement health policy offers different benefits. For instance, some plans cover deductibles and coinsurance. Other plans also cover some home health care and prescription drugs.

Medicare Supplemental Health Insurance Plans

There are 12 standard policies that help pay some of your costs in the original Medicare plan and for some care it does not cover. (If you are in Medicare Advantage plan, such as a Medicare Health Maintenance Organization (HMO), you do not need a Medicare supplement policy.)

Each standard supplemental Medicare plan, labeled A through L, offers a different set of benefits, fills different “gaps” in Medicare coverage, and varies in price. Some insurers offer a “high deductible option” on Medicare supplement plan F and J.

Every Medicare supplement policy must cover certain basic benefits. These basic benefits are as follows:

Medicare Part A coverage:

You pay No monthly premium if you worked 40 or more quarters and paid into Medicare.
You pay $254 monthly premium if you worked 30-39 quarters and paid into Medicare.
You pay $461 monthy premium if you worked less than 30 quarters and paid into Medicare.

You pay a total of $1100 deductible for hospital stay 1-60 days
You pay Coinsurance for hospital days 61-90 $275 a day
You pay Coinsurance for hospital days 91-150 $550 a day
You pay all the cost for days over 150.

Skilled Nursing Facility you pay coinsurance $137.50 per day for days 21-100

Medicare Part B coverage:

Generally, 20% of doctor bills and fifty percent of mental health services
The first three pints of blood

You pay monthly premium of $110.50

You pay $155.00 deductible
You pay 20% of doctor bills after the deductible

Medicare Supplement Plan A

Basic Benefits

Medicare Supplemental Plan B

Basic Benefits
Medicare Part A Hospital Deductible: $992 in 2007 for each benefit period for hospital policy services

Medicare Supplement Plan C

Basic Benefits
Medicare Part A Hospital Deductible
Skilled Nursing Home Costs: Your cost ($124 in 2007) for days 21-100 in a skilled nursing home.
Medicare Part B Deductible: Yearly deductible for doctor services ($131 in 2007).
Foreign Travel Emergency:
80% of the cost of emergency care outside the U.S.
Up to $50,000 during your lifetime
You pay a yearly deductible of $250

Medicare Supplement Plan D

Basic Benefits
Medicare Part A Hospital Deductible
Skilled Nursing Home Costs
Foreign Travel Emergency
At Home Recovery
Help for activities of daily living, such as bathing and dressing, if you are already receiving skilled home care covered by Medicare.
Help for up to eight weeks after you no longer need skilled care.
Will pay up to $40 per visit, seven visits per week, or a total of $1,600 per year.

Medicare Supplement Plan E

Basic Benefits
Medicare Part A Hospital Deductible
Skilled Nursing Home Costs
Foreign Travel Emergency
Preventive Care: Up to $120 per year for preventive services ordered by your doctor.

Medicare Supplemental Plan F

Basic Benefits
Medicare Part A Hospital Deductible
Skilled Nursing Home Costs
Medicare Part B Deductible
Medicare Part B Excess Charges: Pays 100% of the difference between your doctor’s charge and the Medicare approved amount, if your doctor does not accept assignment.
Foreign Travel Emergency

High Deductible Plan “F”:

Plan “F” also has an option called High Deductible Plan “F”. This high deductible plan offers the same benefits as the regular Plan “F” but the benefits do not start until after you pay a calendar year deductible of $1,860 in 2007 (this deductible can go up every year). Some of the expenses you will have to pay to satisfy this high deductible include the Medicare deductibles for Parts A and B, but does not include the Plan “F” Foreign Travel Emergency deductible. The Foreign Travel Emergency deductible must be paid regardless of whether you have met the $1,860 deductible. Also, you cannot count the Foreign Travel Emergency deductible toward the $1,860 high deductible.

Medicare Supplement Plan G

Basic Benefits
Medicare Part A Hospital Deductible
Skilled Nursing Home Costs
Medicare Part B Excess Charges: Pays 80% of the difference between your doctor’s charge and the Medicare approved amount, if your doctor does not accept assignment.
Foreign Travel Emergency
At Home Recovery

Medicare Supplement Plan H

Basic Benefits
Medicare Part A Hospital Deductible
Skilled Nursing Home Costs
Foreign Travel Emergency
Prescription Drugs: fifty percent of prescription drug costs up to $1,250 each year after a yearly deductible of $250.

Medicare Supplement Plan I

Basic Benefits
Medicare Part A Hospital Deductible
Skilled Nursing Home Costs
Medicare Part B Excess Charges: Pays 100% of the difference between your doctor’s charge and the Medicare approved amount, if your doctor does not accept policy assignment.
Foreign Travel Emergency
At Home Recovery
Prescription Drugs: fifty percent of prescription drug costs up to $1,250 each year after a yearly deductible of $250.

Medicare Supplement Plan J

Basic Benefits
Medicare Part A Hospital Deductible
Skilled Nursing Home Cost
Medicare Part B Deductible
Medicare Part B Excess Charges: Pays 100% of the difference between your doctor’s charge and the Medicare approved amount, if your doctor does not accept assignment.
Foreign Travel Emergency
At Home Recovery
Preventive Care
Prescription Drugs: fifty percent of prescription drug go for up to $3,000 each year after a yearly deductible of $250.

 

* If you choose the “high deductible option” on supplemental Medicare Plan F and J, you will first have to pay a $1,860 deductible in 2007 before the plan pays anything. This amount can go up every year. A high deductible option Policy is more affordable, but if you get sick, your costs will be higher.

In addition to the A-L standard supplemental Medicare (Medigap) plan, Medicare SELECT is a type of Medicare supplement policy that is more affordable than a Medicare Advantage policy. However, you can only go to certain doctors and hospitals for your care. Check with your state insurance department to find out if a Medicare SELECT policy is available in your state.

*Plans K and L provide for different cost-sharing for items and services than Plans A through J. Once you reach the annual limit ($4,140 for Plans K and $2,070 for Plan L), the plans pays 100% of the Medicare co-payments, coinsurance, and deductibles for the rest of the calendar year. The out-of-pocket annual limit does NOT include charges from your provider that exceed Medicare-approved amounts, called “Excess Charges.” You will be responsible for paying excess charges. the out-of-pocket annual limit will increase each year for inflation.

Get a no-obligation Medicare Supplemental Insurance Quote from AASK Insurance.