Medicare Supplement Plans
There are many Medicare Supplement Plans to choose from in the Las Vegas Area. Let’s go over the plans that are available and what they cover, then we will make a recommendation about the plans you should consider.
There are 11 Medicare Supplement plans available. Each of them is represented by a letter: A, B, C, D, F, F High Deductible, G, K, L, M, and N. As you review the chart below, you will see that only two plans cover Medicare Excess Charges. That is very important and will be discussed in depth.
Now that you have reviewed the chart, let’s go over the check marks that are not covered by one or more of the Medicare supplement plans in more detail:
Skilled Nursing Facility Coinsurance:
- Days 1-20: $0 per day
- Days 21-100: $144.50 per day
Medicare Part A Deductible: $1184
Medicare Part B Deductible: $147
Medicare Part B Excess Charges: Up to 15%
Foreign Travel Emergeny: $50,000 limit
All of these missing coverages have the potential to become costly, but the most alarming one is the Medicare Part B Excess Charges. Medicare Excess Charges can be levied by doctors, specialist, surgeons and facilities. They are a 15% surcharge above what is allowed to be billed to Medicare.
Consider this example: If you have a $100,000 surgery, Medicare will typically pay 80% and your supplement will pay all or a portion of the remaining 20%. If you do not have a plan that covers the excess charges, you could be responsible for another 15% in addition to the 20% that Medicare didn’t cover. In this case that would be an additional $15,000!
Our advice: Do not consider a Medicare supplement plan that doesn’t cover excess charges. Otherwise, you expose yourself to risk. Once you understand the Medicare excess charges, you come to realize that there are really only 3 Medicare supplements you should consider: F, F High Deductible, and G.
Medicare Supplement Online Quote
Now that you have narrowed your choices down to the three plans that cover Medicare excess charges, you are ready to begin considering insurance companies and premiums. Every insurance company that offers Medicare supplement plans will give you the same benefits. Continue to the next page where we will discuss how to choose your insurance company.