When deciding to join Medicare, it’s important to think about what you will do if a procedure, medication, or test is not covered on your plan. Our dedicated team at South Florida Medicare Specialists is happy to explain to you your different options when choosing United American Medicare plans.
The Different Medicare Plans
There are many different parts to Medicare, but the ones most people focus on are Plans A, B, C, and D. Plan A is your hospital insurance that covers, among other things, lab tests, surgery, and inpatient hospital care. Plan B is your clinical insurance and it covers preventative checkups and medications, durable medical equipment (DME), mental health care, and outpatient procedures. Plan C, also called Medigap or known as Medicare Advantage Plans, cover costs such as coinsurance, deductibles, and co-payments that you would otherwise be responsible for paying. Medicare Part C plans also include dental, vision, and hearing benefits. Plan D is your drug insurance.
United American Medicare Supplement Plan F
This is the most comprehensive plan available. It provides comprehensive coverage for all gaps in Medicare Parts A and B so you do not spend any out-of-pocket expenses on those services. While you do pay a little more in your monthly premium, most people find the benefits and savings they enjoy outweigh the cost of the higher premium.
While Medicare Supplement Plan F plans are the most comprehensive plans on the market, they are being phased out and are not a good option for those who cannot afford them, or simply do not want to pay high premiums. If you became eligible for Medicare in 2019 or earlier then you are eligible to apply for a Plan F or High Deductible Plans.
United American Medicare Supplement Plan G
Because Plan F is beginning to phase out, more individuals are seeking out Medicare supplement Plan G. Both the premiums and deductibles are lower, making Plan G more financially appealing than Plan F. Plan G covers most of the same things that Plan F does. However, Plan G does not cover your Medicare Part B annual deductible, which is $198 for the year 2020.
Part G Plans also include benefits for Part B Excess Charges. Doctors, hospitals, and other healthcare providers decide for themselves whether to participate in Medicare or not. If they do, then they agree to only charge patients the Medicare-approved fees for services. They are not allowed to charge more than that rate set by Medicare, but providers who do not participate in Medicare are able to charge you up to 15% more than the Medicare-approved rate. That additional amount is your Part B Excess Charge and must be paid out-of-pocket unless your Medigap plan includes Part B Excess Charge coverage. Many states, such as New York, Massachusetts, and Ohio, have banned rates that are higher than Medicare, in an effort to protect seniors. In West Palm Beach, our South Florida Medicare Specialists can explain Part B Excess Charge in greater detail with you.
United American Medicare Supplement Plan N
The next type of plan that is offered is the Plan N. This is a good plan for an individual who does not need to visit a doctor often and is in good health. With Plan N, there is a co-pay for doctor visits up to $20, and a co-pay for emergency room visits up to $50. A downside to Plan N is that it does not cover Part B Excess Charges.
About United American
United American was established in 1947 and currently functions as a licensed life and health insurance company in 49 states. It is also a wholly-owned subsidiary of Globe Life Inc. For over 40 years, United American has earned an official “A” Financial Strength Rating from A.M. Best Company, the highest recognition company can receive. What sets United American apart from other providers are their competitive rates for their Plan G.
UA Medicare Plan Features
The federal government has standardized all Medicare supplement plans, so they all share these standard features:
- Your plan is guaranteed renewable: as long as you pay your premiums on time, your policy will not be canceled
- 30-day risk-free policy: you can cancel for any reason and receive a full refund
- Your plan covers you nationwide, so you do not have to change if you decide to move away or travel outside of West Palm Beach
- No networks: you are not restricted to a specific network of doctors or specialists. Any physician that accepts Medicare will accept your UA plan.