MEDICARE SUPPLEMENT BASICS
Medicare is the federal health insurance program for individuals age 65 and older, and certain younger people with disabilities, including End-Stage Renal Disease.
Sometimes referred to as Medigap, Medicare Supplement is an individual health insurance policy sold by private insurance companies. Medicare Supplement insurance may help fill in the gaps and provide the coverage Medicare doesn’t.
You can purchase a Medicare Supplement insurance policy in Wisconsin if you:
- Are age 65 or older or, in some states, under age 65 and disabled or suffering from End-Stage Renal Disease;
- Have Medicare Parts A and B; and
- Are not enrolled in a Medicare Advantage Plan.
- Applicants outside of their open enrollment period or guarantee issue situation are subject to underwriting.
COVERAGE FOR WISCONSIN RESIDENTS
- Inpatient hospital care: covers the Part A coinsurance
- Medical costs: covers the Part B coinsurance (generally 20% of the Medicare-approved amount)
- Blood: covers the first 3 pints of blood each year
- Part A hospice coinsurance or copayment
What the Basic Policy Covers
- Basic benefits (listed above)
- Part A: skilled nursing facility coinsurance
- 175 days per lifetime in addition to Medicare's benefit of inpatient mental health coverage
- 40 home health care visits in addition to those paid for by Medicare
- State mandated benefits
Optional Benefits for the Base Policy
Each of the below Optional Benefit Riders can be purchased separately for more comprehensive coverage to help meet your needs.
|Medicare Part A Deductible Rider||Covers 100% of Part A Deductible|
|Medicare Part B Deductible Rider||Covers 100% of Part B Deductible
Only available to applicants first eligible for Medicare prior to 1/1/2020
|Medicare Part B Excess Charges Rider||Covers the difference between what Medicare pays and the amount charged by the provider, which shall be no greater than the actual charge or the limiting charge allowed by Medicare, whichever is less.|
|Additional Home Health Care Rider||An aggregate of 365 visits per year including those covered by Medicare.|
|Foreign Travel Emergency Rider||After a deductible of no greater than $250, this rider covers at least 80% of expenses associated with emergency medical care received outside the United States during the first 60 days of a trip, with a maximum of at least $50,000.|
|Medicare Part B Copayment or Coinsurance Rider||Pays the Part B coinsurance, subject to a copayment or coinsurance of no more than $20 per office visit and no more than $50 per emergency room visit, or the Medicare Part B coinsurance that is in addition to the Medicare Part B medical deductible and in addition to out-of-pocket maximums.|
Source: Medicare.gov. https://www.medicare.gov/supplements-other-insurance/how-to-compare-medigap-policies/medigap-in-wisconsin
REASONS TO PURCHASE
44% of U.S. adults are concerned about being able to afford medical costs for normal healthcare.*
You don’t have to be one of them. Medicare Supplement insurance can be a valuable solution for your healthcare needs.
Your Medicare plan only pays a share of your medical expenses; the rest comes straight out of your pocket, and there’s no limit. Medicare Supplement can be an excellent way to reduce your out-of-pocket expenses and provide added protection.
Medicare Supplement insurance policies give you the freedom to choose your healthcare provider. You can receive services from any provider whom accepts Medicare. Your policy is also guaranteed renewable; as long as you continue to pay the premium, it cannot be terminated.
*Source: Gallup, Inc., American’s Financial Worries Poll, April 2018. (Based on survey of 1,015 U.S. adults, aged 18 and older). https://news.gallup.com/poll/233642/paying-medical-crises-retirement-lead-financial-fears.aspx.
Click the image below to access the Wisconsin Guide to Health Insurance for People with Medicare.
AMERICO MEDICARE SUPPLEMENT
Underwritten by Americo Financial Life and Annuity Insurance Company
We offer the standardized base plan and optional benefit riders that are designed to provide additional medical coverage for expenses not covered by Medicare, such as coinsurance, copayments, and deductibles.
Long history in the insurance industry
Easy application process
If you live with another adult over age 60, you may qualify for a 10% discount on your premiums
Excellent customer service
STRENGTH & STABILITY
in the insurance industry.1
by A.M. Best.2
for year-end 2021.3
1Americo Financial Life and Annuity Insurance Company (AFL) is a member of the Americo Life, Inc. family of companies. The roots of the Americo Life, Inc. family of companies dates back more than 100 years. AFL is solely responsible for its financial condition and contractual obligations.
2A.M. Best rating for Americo Financial Life and Annuity Insurance Company (AFL), www.ambest.com, 2021. AFL has a financial strength rating of A (Excellent, 3rd out of 15 rating categories.) A.M. Best’s rating is assigned after a comprehensive quantitative and qualitative evaluation of a company’s balance sheet strength, operating performance, and business profile. A.M. Best uses a scale of 15 ratings, ranging from “A++” to “F.” Rating refers only to the overall financial status of the Company and is not a recommendation of the specific Policy provisions or practices of the Insurance Company.
3Information is as of year-end 2021 on a consolidated basis for life insurance subsidiaries of Americo Life, Inc., unless otherwise indicated. Information is prepared on the basis of generally accepted accounting principles (GAAP).
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