The Medigap Policy for Medicare: Our Supplemental Coverage Series from Our Private Client Event

In our continued series from our Private Client Roundtable event earlier this year, Mr. Tom Clark gives us the details on supplemental coverage. As mentioned last week there are three possible broad supplemental options, today we conclude the three-part supplemental series with the Medigap Policy for Medicare.

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The Medigap Policy supplemental Plan

Very similar to group Health Coverage (Non HMOish)

• Patient driven
• Pick your doctor
• Pick your provider

First Pick the correct plan: A, B, C, D,  F, G, K, L and N …. Yikes

How do you pick the correct Plan?

• Some policies cover outside USA
• Plan F most popular
• Align your most important needs with the services covered
• The more you pay … the more covered

Another tool for Picking the correct plan (Texas Only)

Similar to Part C, Medigap Polices are numerous and can be confusing.

You guessed it …  Tom Clark our speaker has another secret website, this time only available to folks living in Texas, enabling them to compare monthly premiums:

• Go to Texas Department of Insurance website
• Look under Insurance and HMO
• The Rate Comparisons area has a special link for Medicare Supplements
• Direct link here to Medicare Rate Comparison (links change frequently, such the above instructions
• “Beware, cost is not everything ” Clark warns, synch your needs with the correct benefit plan!

 Thanks again Tom for the link to the Rate Comparisons, we hope other states adopt this format as well …. John & J.K. Financial, Inc. 

Have a Great Day!

John A. Kvale CFA, CFP