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 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 open enrollment are subject to underwriting.
Medicare Supplement insurance includes standardized plans, regulated by the government, that are designed to provide additional medical coverage for expenses not covered by Medicare, such as coinsurance, copayments, and deductibles.
|PLAN BENEFITS||PLANS AVAILABLE TO ALL APPLICANTS||ONLY AVAILABLE TO APPLICANTS FIRST ELIGIBLE FOR MEDICARE BEFORE 2020†|
|Part A coinsurance and hospital costs (up to an additional 365 days after Medicare benefits are used up)||✓||✓||✓||✓||✓||✓||✓|
|Part B coinsurance or copayment||✓||✓||✓||✓||✓**||✓||✓|
|Blood (first 3 pints)||✓||✓||✓||✓||✓||✓||✓|
|Part A hospice care coinsurance or copayment||✓||✓||✓||✓||✓||✓||✓|
|Skilled nursing facility care coinsurance||✓||✓||✓||✓||✓|
|Part A deductible||✓||✓||✓||✓||✓||✓|
|Part B deductible||✓||✓|
|Part B excess charge||✓||✓|
|Foreign travel exchange (up to plan limits)||80%||80%||80%||80%||80%|
†Only applicants first eligible for Medicare before January 1, 2020 may purchase Plans C, F, and High Deductible F.
*Plans F and G also have a high deductible option which require first paying a plan deductible of $2,490 before the plan begins to pay. Once the plan deductible is met, the plan pays 100% of covered services for the rest of the calendar year. High Deductible Plan G does not cover Medicare Part B deductible. However, High Deductible Plans F and G count your payment of the Medicare Part B deductible toward meeting the plan deductible.
**Plan N pays 100% of the Part B coinsurance, except for a copayment of up to $20 for some office visits and up to a $50 copayment for emergency room visits that don't result in inpatient admission.
Source: Medicare.gov. https://www.medicare.gov/supplement-other-insurance/compare-medigap/compare-medigap.html
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 Medicare Supplement Consumer Buyers' Guide.
AMERICO MEDICARE SUPPLEMENT
Underwritten by Americo Financial Life and Annuity Insurance Company
We offer several standardized plans that are designed to provide additional medical coverage for expenses not covered by Medicare, such as coinsurance, copayments, and deductibles.
Click here for specific benefits covered by each plan.
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
*State variations apply. Househould Discount is not available in NJ.
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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