Medicare Supplement plans in Tennessee can be really simple if you let it. There are 3 different plans that I recommend to all of my clients; those plans are plans F, G, or N. These plans are great for all different situations and price ranges.
The Medicare Supplement plan F is the best plan that you can get. All you have to pay for is the monthly premium. You are 100% covered after Medicare pays their part. You will have no copayments, no coinsurance, and no deductibles to pay for.
The Medicare Supplement plan G is the second best plan that you can get in the Medicare Supplement world. With this plan you will be responsible for the Medicare Part B deductible of $166 per year along with the monthly premium. Sometimes you can even save money going with this plan rather than the plan F even though you have to pay for the deductible. You will still not be responsible for the copayments, or coinsurance.
Now the Medicare Supplement plan N is a bit different from the other two. With the Plan N you will still be responsible for the part B deductible but along with other things. You will be responsible for the Part B excess charges; which means that when you go to the doctor, by law they can charge you up to 15% of the Medicare-approved costs. You will also have to pay up to a $20 copay when you go to the doctor, and a $50 copay if you go to the ER and don’t get admitted into the hospital.
Medicare in Tennessee
Medicare Has two different parts:
Medicare Part A- provides basic coverage for inpatient hospital stays and hospice care, and limited coverage for post-hospital nursing facility services and home health care.
Medicare Part B- provides basic coverage for doctor and laboratory services, and some outpatient medical services, including medical equipment and supplies, some home health-care services, and physical therapy.
Medicare does not cover everything, such as, dental, vision, hearing, nursing home care, most prescription drugs(unless you are in the hospital, then they will pay for it then). Medicare only covers 80% of the cost which leaves you left with the other 20% which we all know can be pretty expensive at times. The other two parts to Medicare are Part D and Part C(Medicare Advantage), the Part D is the prescription drug coverage. The Part C is the Advantage plans that is the other secondary options. But it’s really not a secondary plan, what this plan does is it takes over your Part A and B of Medicare becomes the Part C. You might end up with low monthly premium, but a high deductible or a maximum out of pocket limit.
Feel free to give us a call for more detailed information at 1-800-Medigap/1-800-633-4427.