Supplemental Insurance Plans

We also offer various types of supplemental insurance plans, which are needed when life’s unexpected health issues come up. Having this type of insurance can save you thousands of dollars in medical bills. Our experienced staff of insurance agents will help you choose the plan that will work for your current situation, as well as help you plan for unexpected problems that may occur in the future. See the information below to read more about the types of supplemental insurance we have available. Supplemental coverage options also referred to as ancillary benefits, are often overlooked, but are an affordable health insurance option for many individuals and families. We offer a wide range of products that can supply extra protection on top of your traditional medical plan.

Types of Supplemental Insurance Protection

• Medicare Supplement Insurance
• Dental Insurance
• Vision Plans
• Cancer
• Critical Illness Plans
• Life Insurance
• Hospital Indemnity
• Accident Plans
• Travel Insurance

MEDICARE SUPPLEMENT INSURANCE

Medicare Supplemental Insurance, or Medigap, is a type of private health insurance designed to complement and fill gaps in Original Medicare (Part A and Part B) coverage. Here’s a detailed overview:

Purpose of Medigap

Medigap policies help cover certain healthcare costs that Original Medicare does not fully cover, such as:

• Copayments
• Coinsurance
• Deductibles

How It Works:

1. Eligibility: To be eligible for Medigap, you must be enrolled in Medicare Part A and Part B. Medigap policies are individual plans, meaning a separate policy is required for each person.
2. Enrollment: The best time to buy a Medigap policy is during the Medigap Open Enrollment Period, which is a six-month period that starts the first month you have Medicare Part B and are 65 or older. During this period, you have a guaranteed right to buy any Medigap policy sold in your state, regardless of health status.
3. Standardized Plans: Medigap policies are standardized and are identified by letters (e.g., Plan A, Plan B, Plan C). Each plan offers a different set of benefits, but within each letter category, the benefits are the same regardless of the insurance company selling it. However, the cost may vary between companies.
4. Other Plans: Additional plans (B, C, D, F, G, K, L, M, N) offer more comprehensive coverage, such as covering Medicare Part A and B deductibles, skilled nursing facility care coinsurance, foreign travel emergency care, and more.
5. Guaranteed Renewal: As long as you pay your premium, the policy is guaranteed renewable, even if you have health problems.
6. Not Compatible with Medicare Advantage: Medigap policies cannot be used in conjunction with Medicare Advantage Plans (Part C). Medigap is only applicable with original Medicare.
7. No Prescription Drug Coverage: Medigap policies sold after January 1, 2006, do not include prescription drug coverage. For this, beneficiaries need to enroll in   = Medicare Part D.

Coverage Examples

• Medigap Plan A: Covers basic benefits including Medicare Part A coinsurance and hospital costs up to an additional 365 days after Medicare benefits are exhausted.
• Medigap Plan G: Provides more comprehensive coverage including Medicare Part A deductible, Part B coinsurance or copayment, and foreign travel emergency care.

Costs

• Premiums: You pay a monthly premium for a Medigap policy in addition to the Part B premium.
• Out-of-Pocket Costs: Depending on the plan you choose, some out-of-pocket costs may be minimized or eliminated.

Additional Considerations

• Pre-Existing Conditions: Outside the open enrollment period, an insurance company can deny coverage or charge higher premiums based on pre-existing conditions.
• Medigap is different from Medicare Advantage (Part C) plans, which are an alternative way to receive Medicare benefits and often include additional services like dental, vision, and prescription drugs. Medigap policies, on the other hand, work alongside Original Medicare to fill in the gaps.

Benefits of Medigap

• Predictable Costs: Reduces the unpredictability of healthcare costs by covering some or all of the gaps in Original Medicare.
• Flexibility: Allows you to see any doctor or specialist who accepts Medicare.
• Portability: Generally, covers you nationwide, which is beneficial for frequent travelers.

In summary, Medigap provides valuable supplementary coverage to help manage out-of-pocket costs not covered by Original Medicare, offering peace of mind and financial protection.

DENTAL AND VISION

What is Dental Insurance?
Dental insurance is a type of health insurance designed to pay a portion of the costs associated with dental care.

What is Vision Insurance?
Vision insurance is a form of insurance that provides coverage for the services rendered by eye care professionals such as ophthalmologists and optometrists.

CRITICAL ILLNESS / CANCER

How is a Cancer Plan different from a traditional medical plan?
Medical insurance reimburses the insured, or provider, for covered and approved medical services, procedures, equipment, and prescription drugs. The Cancer Plan pays an immediate one-time, lump-sum payment directly to the insured upon initial diagnosis of covered cancer. The cancer insurance policy benefit can be used for any purpose you choose.

LIFE INSURANCE

What is Life Insurance?
Life insurance may be one of the most important purchases you’ll ever make. In the event of a tragedy, life insurance proceeds can help pay the bills, continue a family business, finance future needs like your children’s education, protect your spouse’s retirement plans, and much more. If you’re considering securing you and your family’s financial future, we would be happy to review your current situation and offer a few ideas on how you can protect it!

HOSPITAL INDEMNITY

What is Hospital Indemnity Insurance?
Hospital indemnity insurance is a type of plan that pays a set amount – per day, per week, per month, or per visit – if you’re confined in a hospital. The Hospital Plan is a hospital indemnity insurance plan.

ACCIDENT INSURANCE PLANS

What is Accident Insurance?
Accident Insurance helps you handle the medical and out-of-pocket costs that add up after an accidental injury. This includes emergency treatment, hospital stays and medical exams, and other expenses you may face, such as transportation and lodging needs.

TRAVEL INSURANCE PLANS

What is Travel Insurance?
Travel insurance is a type of policy that reimburses you for money you lose from non-refundable deposits and payments when something goes wrong on your trip. These problems can range from lost baggage to flight delays to medical problems.