Medicare Supplement PlanningDesigned To Get You Where You Want To Go Contact Laurel Insurance Partners
Serving Asheville NC, Hendersonville NC, & Greenville SC
Here at Laurel Insurance Partners, we don’t just work with you, we work beside you to help you find the best medicare supplement plan for where you want to go. Figuring out what your Medicare plan covers can be tricky, and that’s why we are dedicated to helping you every step of the way, ensuring you are confident with your insurance plan.
While Medicare does take care of many of your medical necessities and treatments, there are, often times, fees left to pay. As a supplemental plan designed to fill the gaps left from your original Medicare coverage, policies such as Medigap help to cover the extra costs. A medicare policy that takes care of copayments, deductibles, coinsurances, and Medigap may be the perfect policy that ensures you are able to get the treatment you desire without having to worry about how you are going to cover the non-Medicare covered expenses.
In addition, you may want to consider what Medicare Advantage plans could do for your future. This healthcare plan is offered by private companies, contracted out by Medicare, to provide you with all your Part A and Part B benefits. These benefits include maintenance organization, preferred provider organization, private fee-for-service, special need plans, and medical saving accounts. With advantage plans, anything not covered by your regular Medicare coverage will be paid for by the additional plans that you choose.
Should I Go with Medicare Supplement or Medicare Advantage?
Medicare Advantage plans have their place. They can work for some, but not for others. Medicare Advantage plans take the place of original Medicare. You continue to pay your Part B premium, while the claims are paid by the Medicare Advantage plan. The “advantage” to Medicare Advantage is low or zero cost premiums.
But on the other hand, there are some disadvantages. Medicare Advantage uses networks: in-network and out-of-network. Typically in rural areas, in-network can be limited to the county in which you live. So if you travel out of state, you can be covered for emergency care but much of the cost falls on you. On top of that, some specialist are not in-network with the plan.
If you have a limited budget or use VA, Medicare Advantage might be right for you.
Medicare supplements, or Medi-gap, supplement or fill in the gaps for the deductibles or copays not covered by Medicare. You must be enrolled in Part B. Medicare supplements are regulated by both Federal government (Medicare is a federal program) and State governments (Insurance is regulated by the state). So if Medicare pays, the supplement pays! No questions asked.
The disadvantages are that you pay a monthly premium for the plan, and at renewal, premiums often (will) go up. I call my clients every year with lower cost options.
Save Money with the Right Medicare Choice
Working for you, not the insurance companies, you never have to worry about our prerogative to provide exceptional service. We make you our priority at all times, providing you with the assistance and guidance you need to make the right decisions, saving you money along the way. To begin planning for your future, with a team dedicated to your needs, get in touch with one of our qualified agents today.
Helpful Medicare Terms and Definitions
An agreement by your doctor, provider, or supplier to be paid directly by Medicare, to accept the payment amount Medicare approves for the service, and not to bill you for any more than the Medicare deductible and coinsurance.
An amount you may be required to pay as your share of the costs for services after you pay any deductibles. Coinsurance is usually a percentage (for example, 20%).
An amount you may be required to pay as your share of the cost for a medical service or supply, like a doctor’s visit, hospital outpatient visit, or a prescription. A copayment is usually a set amount, rather than a percentage. For example, you might pay $10 or $20 for a doctor’s visit or prescription.
The amount you must pay for health care or prescriptions, before Original Medicare, your prescription drug plan, or your other insurance begins to pay.
If you have Original Medicare, and the amount a doctor or other health care provider is legally permitted to charge is higher than the Medicare‐approved amount, the difference is called the excess charge.
Guaranteed issue rights
Rights you have in certain situations when insurance companies are required by law to sell or offer you a Medigap policy. In these situations, an insurance company can’t deny you a Medigap policy, or place conditions on a Medigap policy, such as exclusions for pre‐existing conditions, and can’t charge you more for a Medigap policy because of a past or present health problem.
Guaranteed renewable policy
An insurance policy that can’t be terminated by the insurance company unless you make untrue statements to the insurance company, commit fraud, or don’t pay your premiums. All Medigap policies issued since 1992 are guaranteed renewable.
A joint federal and state program that helps with medical costs for some people with limited income and resources. Medicaid programs vary from state to state, but most health care costs are covered if you qualify for both Medicare and Medicaid.
The process that an insurance company uses to decide, based on your medical history, whether to take your application for insurance, whether or not to add a waiting period for pre‐existing conditions (if your state law allows it), and how much to charge you for that insurance.
Medicare Advantage Plan (Part C)
A type of Medicare health plan offered by a private company that contracts with Medicare to provide you with all your Medicare Part A and Part B benefits. Medicare Advantage Plans include Health Maintenance Organizations, Preferred Provider Organizations, Private Fee‐for‐Service Plans, Special Needs Plans, and Medicare Medical Savings Account Plans. If you’re enrolled in a Medicare Advantage Plan, Medicare services are covered through the plan and aren’t paid
for under Original Medicare. Most Medicare Advantage Plans o er prescription drug coverage.
In Original Medicare, this is the amount a doctor or supplier that accepts assignment can be paid. It may be less than the actual amount a doctor or supplier charges. Medicare pays part of this amount and you’re responsible for the difference.
Medicare prescription drug plan (Part D)
Part D adds prescription drug coverage to Original Medicare, some Medicare Cost Plans, some Medicare Private‐Fee‐for‐Service Plans, and Medicare Medical Savings Account Plans. These plans are offered by insurance companies and other private companies approved by Medicare. Medicare Advantage Plans may also offer prescription drug coverage that follows the same rules as Medicare Prescription Drug Plans.
A type of Medigap policy that may require you to use hospitals and, in some cases, doctors within its network to be eligible for full benefits.
Open Enrollment Period (Medigap)
A one‐time‐only, 6‐month period when federal law allows you to buy any Medigap policy you want that’s sold in your state. It starts in the first month that you’re covered under Medicare Part B, and you’re 65 or older. During this period, you can’t be denied a Medigap policy or charged more due to past or present health problems. Some states may have additional Open Enrollment rights under state law.
The periodic payment to Medicare, an insurance company, or a health care plan for health care or prescription drug coverage.
State Health Insurance Assistance Program (SHIP)
A state program that gets money from the Federal government to give free local health insurance counseling to people with Medicare.
State Insurance Department
A state agency that regulates insurance and can provide information about Medigap policies and other private health insurance.
Our Locations Offering Medicare Supplement Services
1854 Hendersonville Road Suite A18
Asheville, NC 28803
Travelers Rest Office
3598 SC Highway 11 Suite 210
Travelers Rest, SC 28690