Medicare Supplement Plans in Hot Springs, AR

Medicare Supplement Insurance — commonly called Medigap — is private health insurance designed to cover the out-of-pocket costs that Original Medicare (Parts A and B) leaves behind. Medicare Part A covers inpatient hospital stays and Part B covers outpatient and physician services, but both come with deductibles, coinsurance, and copayments that add up over time. Medigap policies pay some or all of those costs depending on the plan letter.

Medigap plans are standardized by the federal government and labeled Plan A through Plan N. Every insurer offering Plan G must cover the same standardized benefits — the only variables between carriers are the premium charged and customer service quality. This standardization makes plan comparison straightforward.

The most popular Medigap plans today are Plan G and Plan N. Plan G covers nearly everything Medicare does not — the Part A deductible, Part A coinsurance and extended hospital costs, Part B coinsurance, skilled nursing facility coinsurance, and foreign travel emergency care — except the Part B annual deductible . Once you meet that Part B deductible, Plan G eliminates virtually all additional cost-sharing for covered Medicare services.

Plan N is similar to Plan G but costs less in premiums. The trade-off: Plan N requires copays of up to a specific amount for office visits and a specific amount for emergency room visits, and it does not cover Part B excess charges (the amount a non-participating provider can bill above Medicare-approved rates). Plan N suits relatively healthy beneficiaries who prefer lower premiums and accept modest point-of-service costs.

Plans C and F, which also covered the Part B deductible, are no longer available to people who became Medicare-eligible on or after a certain date.

The best time to buy Medigap is during your six-month Open Enrollment Period — beginning the month you are both age 65 or older and enrolled in Part B. During this window, insurers must sell you any plan at their best available rates with no medical underwriting. Outside this window, underwriting can result in higher premiums or denial. Lancaster Cook is AHIP certified and works with Mutual of Omaha, Humana, and other carriers to find competitive Medigap rates for Little Rock area seniors.