Music up and throughout.
Caption: Medicare Moment
with Phil Moeller – author, journalist, and Medicare and retirement expert
Caption: How Medicare Supplement plans work
Cut to Phil Moeller.
Phil Moeller: Hi, I’m Phil Moeller. Medicare Supplement plans – sometimes referred to as Medigap plans – help pay for certain out-of-pocket expenses not covered by Medicare Parts A or B – known as Original Medicare.
Caption: Medigap plans
- Help pay for out-of-pocket costs not covered by Medicare Parts A and B
- Do not cover Part D expenses for prescription drugs
- Can be paired with a Part D plan to help meet your medical/drug coverage needs
Medigap plans do not cover Part D expenses for prescription drugs, but can be paired with a Part D plan to help meet your medical and drug coverage needs.
Caption: There are 10 different types of Medigap plans – each designated by a different letter of the alphabet
Phil Moeller: There are 10 different types of Medigap plans, each designated by a different letter of the alphabet.
Cut back to Phil.
Phil: Even though the plans are offered by many insurers, plans carrying the same letter must offer the same basic benefits. However, insurers can differentiate their plans by including extra discounts and services with the plan, like a gym membership.
Caption: Insurers can offer extra discounts and services with the plan
Image of travel bag.
Phil Moeller: Premiums may vary by insurer and by state. Letter A plans from some insurers, for example, will cost more than others. Generally plans that offer broader coverage have higher premiums. So, it’s a good idea to shop around for a plan that meets your short term and long term coverage needs.
Caption: Premiums may vary by insurer and state
Phil Moeller: The other great thing about a Medicare supplement plan is that the coverage does not change each year and it is guaranteed for life as long as you continue to pay your premiums.
Caption: Another great thing about a Medicare supplement plan?
The coverage does not change each year and is guaranteed for life.
(As long as you pay your premiums)
Phil Moeller: Medicare.gov has this information as well as definitions of what the different plans cover.
Caption: Check out medicare.gov for more information.
Image of a computer monitor and keyboard.
Cut back to Phil Moeller.
Phil Moeller: You can also visit MedicareMadeClear.com for more information about plan options.
Cut to UnitedHealthcare logo.
Caption: UnitedHealthcare
