Medicare Supplement Insurance & Medigap Plans

In this short video Mike explains Medicare Supplement | Medigap Insurance.

E

Medigap plans A-N, also known as Medicare Supplement plans, play a crucial role in helping individuals cover the gaps left by Original Medicare. When comparing these plans, it’s important to understand that they are standardized by the government, meaning the basic coverage remains the same across different insurance companies that sell them while having access to any doctor or hospital that accepts Medicare. The key difference lies in the premium cost, the history of their rate increases, and additional benefits offered by each plan. The popular plans are plan F, G, and N.

\

Plan F pays all the gaps. It is only available for people who turned 65 prior to Jan. 1, 2020, and consequently is seeing high rate increases.

\

Plan G pays all the gaps except for the Medicare Part B calendar year deductible ($240 in 2024). Hence your out-of-pocket maximum is equal to the part B deductible.

\

Plan N is like plan G in that it does not cover the part B deductible. Plan N usually has lower premiums than G but adds a $20 co-pay for in-office doctor visits and $50 co-pay for ER visits that don’t result in an inpatient admission. Plan N does not cover part B excess charges, while plan G does. A very small percentage of doctors may charge excess charges up to 15% higher than Medicare rates.

Understanding your specific healthcare needs and budget is crucial when choosing a plan. Another factor to consider in the comparison of Medigap plans is the pricing structure. Insurance companies may employ different methods to determine premiums, such as community-rated, issue-age-rated, or attained-age-rated pricing. Community-rated plans charge the same premium to everyone, regardless of age, whereas issue-age-rated plans base premiums on your age at the time of purchase. Attained-age-rated plans, on the other hand, may start with lower premiums but increase as you get older. It’s essential to carefully evaluate these pricing mechanisms to ensure that the plan you choose aligns with your long-term financial considerations.

In conclusion, when comparing Medigap plans, individuals should weigh the trade-offs between comprehensive coverage, premium costs, and pricing structures, and the pros and cons of individual insurance companies. Each plan comes with its unique set of advantages and potential drawbacks, so it’s crucial to align your choice with your health needs and financial situation. Call Mike at 281-787-7358 to help you navigate the complexities and find the most suitable Medigap plan for your individual circumstances.

What Our Customers Say

     Excellent  
     Based on 74 reviews 
    
 
 
   
 
 
        
   Karen F 
 2024-04-10
 
 
  Moving to Texas from out of state and enrolling in Medicare for the first time was very overwhelming to say the least! I found Mike Bauer from his YouTube videos explaining Medicare in terms I could understand. We met with Mike and were immediately put at ease with his extreme knowledge of Medicare, whether to go with Medigap or Advantage plans and explaining the different plans that are offered in Texas. He is very responsive by phone and email. We highly recommend Mike to help you with your Medicare Coverage options.
  
 
       
   Cynthia Sawyer 
 2024-04-04
 
 
  I highly recommend Mike for any Medicare questions or concerns. He is extremely knowledgeable on all the Medicare supplement plans offered.  We worked together to find the right plans that suited me and he went thru the entire application and signup process while in his office.  If you need help choosing your plan, please contact him.  You will not be disappointed!
  
 
       
   SUSAN 
 2024-03-21
 
 
  Mike Bauer helped me to secure a Medicare Supplement and RX plan through Humana. He was very patient and professional during the process. It was a bit time consuming, but he had my best interest at heart, and we work through many different avenues for coverage.  I would recommend Mike to anyone needing additional insurance.
  
 
       
   Karen Johnson 
 2024-03-20
 
 
  Knowledgeable and so very helpful!  I highly recommend Mike!
  
 
       
   Billy Matlock 
 2024-03-20
 
 
  So glad I turned to Mike Bauer!!!! He was referred to me by a friend of mine and though I thought I was on the right track he was so helpful navigating and answering all my questions. Because of our work together I believe we reached a successful choice on my Medicare Advantage plan. Thanks Mike!!!! You rock!
  
 
       
   Pat Gray 
 2024-03-06
 
 
  Mike was a lot of help when we were setting up our medigap policy. He is very patient and knowledgeable about the policies he has available.  I have no problem recommending him to help people through a very confusing line of products.
Pat Gray
  
 
       
   Paula Grote 
 2024-01-19
 
 
  Mike Bauer is amazing. He always does what's best for his clients even if it means he doesn't profit from the transaction. I will continue to use Mike and highly recommend him to anyone!
  
 
       
   Peggy Born 
 2023-11-18
 
 
  This month was my second time working with Mike on Medicare decisions. He was very helpful and knowledgeable - and helped me understand and make informed decisions. I have recommended him to several friends and will continue to do so. He is very patient and kind.
  
 
       
   Merle Moon 
 2023-11-17
 
 
  Mike Bauer has provided expert service to my wife and I in navigating our entry into the world of Medicare.  He has been a key resource in helping us choose the best options for our needs and provided hands on guidance in the signup process.  True professional!!
  
 
       
   Judi Bloom 
 2023-11-13
 
 
  Excellent follow up and service.