Mr. Moy’s wife has a Medicare Advantage plan, but he wants to understand what coverage Medicare Supplemental Insurance provides since his health care needs are different from his wife’s needs. What could you tell Mr. Moy?
a. Medicare Supplemental Insurance would help cover his Part A and Part B deductibles or coinsurance in Original Fee-for-Service (FFS) Medicare as well as possibly some services that Medicare does not cover.
Medicare Supplemental Insurance, also known as Medigap, is designed to work alongside Original Medicare (Part A and Part B) and help cover the out-of-pocket costs that beneficiaries would otherwise have to pay, such as deductibles, copayments, and coinsurance.
By purchasing a Medigap policy, Mr. Moy can have better predictability and control over his healthcare expenses. It can help him cover the gaps in his Medicare coverage, making it easier for him to budget and plan for healthcare costs.
It’s important to note that Medicare Supplemental Insurance plans are standardized and are labeled with letters (Plan A, Plan B, Plan C, etc.), and the coverage for each plan type is the same regardless of the insurance company selling it. However, the premium costs may vary between companies, so it’s essential for Mr. Moy to compare different plans to find the one that best suits his individual health needs and budget.
