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Medicare Supplement Basics

Medicare Supplement insurance is an insurance policy you can purchase to cover the expenses left behind after Medicare pays. This type of policy pays second to Medicare. These expenses are usually 20% of doctor visits, ER, diagnostic tests, physical therapy, and other medical expenses. If you stay overnight in the hospital, Medicare charges you a deductible of $1,260 for each period. This deductible can be charged to you multiple times in a year if you re-enter the hospital.

Since Medicare doesn’t cover 100% of your expenses, many people elect to purchase a private supplemental insurance policy to pay the Part A (hospital) deductible and the 20% that is left behind after Medicare Part B pays.

If you buy a Medicare supplement, the plans are standardized policies labeled A, B, C, D, F, G, K, L, M, and N. These plans contain the same benefits regardless of your location: VA, MD, DC. Each company must offer the same benefits under each letter. The biggest difference between companies is the monthly premium they charge. Most people choose plan F, G or N which account for about 70% of supplemental sales. Read more on our Medicare Supplement Explanation page or contact us for free assistance and review of all Medicare plans in Northern Virginia, and Maryland or supplement plans in Missouri.

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