Medicare Eligible

Medicare Supplement Plans

Medicare Supplement (or Medigap) policies provide supplemental benefits to the basic Medicare Part A and B coverages. Supplements are standardized and are offered at various benefit levels. Premiums vary, with the lowest cost plan offering the minimum level of benefits and the highest cost plan offering a wide variety of benefits. Eligibility for Medicare starts at age 65 – or younger if found to be disabled and eligible for Social Security benefits. Supplement plans are designed to pick up some or all of the costs that Medicare Parts A and B do not cover. Due to the variety of supplemental plans available, it is best to meet with an agent to determine the best possible option for each person.

Medicare Drug Plans

Medicare Part D Prescription Drug plans are another addition to Medicare. Medicare does not provide prescription drug benefits and neither do the supplement plans. The Part D plan fills in this missing element. If a person already has a prescription drug benefit from other coverage (such as VA or TRI-Care), they should compare the coverage they have to the Part D plans. In many cases they will not need Part D. Just as Medicare Supplements have a variety of plans, so does Part D. As is the case with Supplements, it is best to meet personally with an agent to determine which Part D plan fits each individual situation.

Senior Benefit Plans

Apart from Medicare Supplement plans, there are also benefit plans available that are similar to individual and family plans. These plans have a deductible and co-payments and are designed to help cover the costs Medicare does not cover, rather than filling the gaps of Medicare, as supplemental plans do. It can be difficult to evaluate whether a Supplement or a benefit plan is better, therefore it is best to meet with an agent to compare your choices.