It doesn’t matter if you are seeking a Medicare Supplement Plan Portland or any other location, every Medigap policy must follow Federal and State Laws that have been set up to protect you and the plans must be clearly identified as “Medicare Supplement Insurance”
If you live in Portland OR or surrounding areas such as Gresham, Tigard, Lake Oswego or Beaverton, and are shopping for a Medicare Supplement insurance plan for yourself or a loved one, it is important to know that insurance companies can only sell you a “standardized” policy identified in most states by letters A-N. All Medicare supplement policies that are offered in the state of Oregon must have the same basic benefits, so you can choose which Medicare supplement meets your needs.
In the state of Oregon, different insurance companies may charge different premiums for the same exact policy. As you shop for a Medicare supplement plan, be sure you’re comparing the same policy, for example, compare plan F from one company and plan F from another company, the benefits will ALWAYS be the same but the price will be different. Below we have provided a chart that shows a side by side comparison of plans A-N.
How to read the chart:
If a check mark appears in a column of this chart, the Medigap policy covers 100% of the described benefit. If a row lists a percentage, the policy covers that percentage of the described benefit. If a row is blank, the policy doesn’t cover that benefit. Note: The Medigap policy covers coinsurance only after you have paid the deductible (unless the Medigap policy also covers the deductible).
|Medicare Part A Coinsurance and hospital costs up to an additional 365 days after Medicare benefits are used up|
|Medicare Part B Coinsurance of Copayment||50%||75%||***|
|Blood (First 3 Pints)||50%||75%|
|Part A Hospice Care Coinsurance or Copayment||50%||75%|
|Skilled Nursing Facility Care Coinsurance||50%||75%|
|Medicare Part A Deductible||50%||75%||50%|
|Medicare Part B Deductible|
|Medicare Part B Excess Charges|
|Foreign Travel Emergency (Up to Plan Limits)|
|Out Of Pocket Limit**||$4,660||$2,330|
*Plan F also offers a high-deductible plan. If you choose this option, this means you must pay for Medicare-covered costs up to the deductible amount of $2,070 in 2012 before your Medigap plan pays anything.
** After you meet your out-of-pocket yearly limit and your yearly Part B deductible ($140 in 2012), the Medigap plan pays 100% of covered services for the rest of the calendar year.
*** Plan N pays 100% of the Part B coinsurance, except for a copayment of up to $20 for some office visits and up to a $50 copayment for emergency room visits that don’t result in an inpatient admission.
Your Insurance Gal, Stacey Johnson-Kipfer, wants to help you to avoid over paying for your Medicare Supplement policy. If you are turning 65 or considering making a change to your plan during this year’s open enrollment we would love the opportunity to provide you a free consultation.