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Medicare Supplements in Morehead City, NC

At Good Life Financial Advisors of Morehead City, NC, our mission is to help you work toward financial freedom with strategic planning solutions, including Medicare supplements.

Proactive guidance is paramount when working toward financial goals that serve your best interest. And while there are many benefits of Medicare supplements, knowing exactly what Medicare supplements entail is essential in deciding whether or not it is right for you. Here’s what you need to know.

What Are Medicare Supplements?

Medicare Supplement Insurance policies, also known as Medigap policies, are sold by private companies. These plans can help offset the costs of healthcare services that aren’t covered under Original Medicare. Medigap policies often take care of the cost of copayments, coinsurance, and deductibles. 

Medicare Supplement Types

In most states, there are ten Medicare Supplement plan types available. Each plan is labeled with a letter corresponding to a certain level of essential benefits. Each policy pays for different amounts of covered healthcare costs, such as copayments and deductibles. The three most popular options among these ten plan types are Plan F, Plan G, and Plan N.

Medicare Plan F

Medicare Supplement Plan F is the most comprehensive Medicare Supplement available. This plan provides beneficiaries 100% coverage for Medicare-covered medical expenses after Original Medicare pays its portion. Unfortunately, because of its benefits, it is also the most costly. The premium costs often range from $150 to $400 monthly based on factors like your zip code, age, tobacco use, and more. However, the most significant benefit of this plan is that you essentially have no out-of-pocket expenses for covered medical services.

Medicare Plan G

For new enrollees, Plan G is the most popular plan. This Medigap plan includes all the benefits of Medicare Supplement Plans A, B, and C. However, it does not cover the Medicare Part B deductible. Generally, this plan is an excellent option for those who want added coverage for hospitalization but are also willing to pay the Medicare Part B deductible out-of-pocket. On average, the monthly premium is about $140.

Medicare Plan N

While Plan N isn’t the most comprehensive plan available, it is still an excellent option for those who want great value for a reasonable price. With this Medigap plan, most medical expenses are covered. For example, Plan N covers 100% of your Medicare Part B coinsurance costs, with the exception of a $20 copay for office visits and a $50 copay for emergency room (ER) visits. On average, the monthly premium is about $152 per month. 

Schedule Your Complimentary Discovery Call

We hope you enjoyed learning some of the benefits of Medicare supplements. If you believe you are a good candidate or have questions, our team is here to help! At Good Life Financial Advisors of Morehead City, we believe in empowering our clients with education and resources so that they can feel confident about their financial decisions.

To learn more about Medicare supplements, contact us today to schedule a complimentary Discovery Call. This meeting is a no-obligation consultation to discuss your current life circumstances, financial situation, and long-term goals. It is also an opportunity for you to learn more about us and determine whether you feel comfortable moving forward with our team of financial professionals.

If you’re ready to discover the Good Life, contact us today to schedule your free consultation. We hope to help you soon!

The opinions voiced are for general information only and are not intended to provide specific advice or recommendations for any individual.