Medigap Monday: What is a Zero Premium Supplement Plan?
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There is no such thing as a \\u201czero premium\\u201d Medicare Supplement plan. If you see any plans advertised as being \\u201czero premium\\u201d those are not Medicare Supplements but Medicare Advantage plans, and they are not \\u201czero premium\\u201d. The way a Medicare Advantage plan works is the premium you would pay to Medicare Part B, is now paid to a private insurance carrier instead of Medicare. You are still paying for those plans. It is important when choosing between these two plans that you know the differences.
\\nSummary of a Medicare Advantage Plan:
\\n\\xb7 A Private Company provides a health plan that you will use instead of using your traditional Medicare.
\\n\\xb7 Low monthly premium
\\n\\xb7 Requires you to pay some bills when you use the Plan. You will have copays, co-insurance and sometimes a deductible.
\\n\\xb7 You have to go to certain Doctors, Hospitals and other Providers. (HMO / PPO)
\\n\\xb7 Has a max out of pocket for your protection. Once you have paid a certain amount, the plan will pay the rest of your healthcare cost. For 2019, most HMO\\u2019s are around $4,000.00 and the PPO Plans are around $6,700.00.
\\nSummary of a Medicare Supplement Plan:
\\n\\xb7 Medicare (A and B) are your primary insurance and the Supplement Plan pays the bills that Medicare would normally make you pay.
\\n\\xb7 You can go to any Doctor, Hospital, or Provider in the Country that accepts Medicare.
\\n\\xb7 You will very rarely have a healthcare cost other than your monthly premium. (My favorite Supplement Plan is the Plan G, once you pay the first $185.00 of your medical bills, you are done for the rest of the year)
\\n\\xb7 Does have a higher monthly premium than a Medicare Advantage Plan. A Supplement is usually between $80.00 and $120.00 per month.
\\nIf you have any questions regarding Medicare, please give our office a call at 1-855-368-4717 or visit one of our pages:
\\nhttps://www.seniorhealthcaredirect.com/
\\nhttps://www.facebook.com/MedicareBob/
\\nhttps://twitter.com/MedicareB
\\nhttps://www.youtube.com/channel/UCy_avKva4VN0DBEgjP7I43w?view_as=subscriber
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