If you’re searching for Medicare secondary insurance, what you really are looking for is a Medicare Supplement, also known as a Medigap policy. These types of policies re offered through private insurance companies.
These policies are considered secondary to Medicare because Medicare pays its portion of the bill and then the plan pays the remainder.
You see, the Medigap policy is designed to complement Medicare. It’s NOT a substitute for Original Medicare and you need Medicare Part A and Part B to qualify for supplemental enrollment.
Medicare Secondary Insurance
It doesn’t matter what you call it, either way it’s some of the best coverage available to Medicare beneficiaries. Supplemental insurance will assist you by closing the gap between what Original Medicare will pay and what you must pay out of pocket.
These plans are standardized, meaning they’re regulated by state and federal laws, the benefits you receive will be the same no matter which insurance company you choose. The big difference will be price and choosing a plan with good ratings.
There are different pricing methods to Medigap policies and not all carriers will offer all 10 plans, some will only offer a few of them.
The Top 5 Medicare Secondary Insurance Plans Available
If you want coverage that helps pay for some of the health care costs that Original Medicare doesn’t cover, like copayments, coinsurance, and deductibles then you could benefit from a Medigap policy.
I’m listing these Supplemental policies in order of popularity for your convenience:
1) Plan F
Plan F offers the most comprehensive coverage and has been one of the most popular Medicare Supplement plans for a long time. The Plan F leaves beneficiaries with little to no out-of-pocket expenses.
Plan F is known as first-dollar coverage. Plan F leaves beneficiaries with no deductibles and in 2020 lawmakers decided that eliminating Plan F and Plan C could potentially save Medicare money. So, if you want to get your “first-dollar” coverage you’ll need to do so before 2020.
2) Plan G
Plan G is the second most popular Medicare Supplement plan, to no surprise. Medicare Part A and B certainly don’t cover ALL your healthcare costs, meaning you’ll be responsible for co-pays, deductibles and coinsurances.
After you meet your Part B deductible, only $185 for the year in 2019, Medicare Supplement Plan G is almost the same as Plan F. This deductible is the only thing you need to worry about. Sometimes the premium amount you save on Plan G vs Plan F is more than $200 meaning, by paying your own deductible you actually SAVE money.
3) Plan N
Traditional Medicare pays for a limited number of days in the hospital. This includes 80 percent of the cost of doctor visits and other services covered by Medicare Part B.
Plan N picks up the other 20 percent, but you may be required to pay a copay. These copays can range up to $20 for doctor visits and up to $50 for emergency room visits that don’t lead to hospitalization.
Plan N’s other benefits include:
- As many as 365 additional days of hospitalization after Medicare Part A benefits have been used up
- Coinsurance for hospice care
- Coinsurance for skilled nursing facility care
- The first three pints of blood for a medical procedure
- The $1340 deductible for Medicare Part A
- Emergency care during foreign travel, up to plan limits
4) Plan C
Plan C is often confused with Part C, these are very different. Part C is a Medicare Advantage plan and Plan C is a supplemental insurance that offers some of the most comprehensive coverage.
Medicare Supplement Plan C covers everything like Medicare Plan F, the only exception is Medicare Part B excess charges. These are doctor charges that can legally extend beyond the Medicare-approved amount for service payment. For example, a doctor can bill up to 15% over the Medicare-approved amount in some cases.
5) Plan F High Deductible
The High Deductible Plan F has the same coverage as the traditional Plan F, the difference between the two plans is the deductible. The deductible amount for 2018 is $2,240. Since this plan has a deductible, the premium is significantly lower than the Original Plan F.
The Other 6 Plans
Medicare Supplement plans A, B, D, K, L and M offer some coverage, but the coverage isn’t as comprehensive as the Top 5 I listed. Talking to an insurance agent is the best way to ensure you enroll in the most suitable plan for you.
These plans are standardized, so a Plan F is a Plan F, no matter what company you choose. The biggest difference will be the cost.
When Is Medicare Primary?
First off, what is primary insurance? Primary insurance is the insurance that pays first. Medicare is primary to small employer coverage, and Medicare can’t pay as your primary insurance if you never enrolled in it.
Talking to an insurance agent is always a good idea, they are experts that can help make sure you don’t end up in a situation without coverage.
In many cases, secondary insurance won’t pay unless the primary insurance first paid its share.
When is Medicare Secondary?
Medicare is secondary to your group health insurance if the company has 20 or more employees. If the group insurance is affordable, you may choose to delay your enrollment in Part B. If you’re 65 and still working you may not need to enroll in Part B.
It’s important that you speak with a licensed insurance agent who specializes in Medicare before you decide to delay enrollment. When you delay enrollment into Medicare Part B you could receive the Part B late Enrollment Penalty if certain conditions aren’t met.
How Do I Apply for Medicare Secondary Insurance?
If you need help paying Medicare costs and are looking to apply for Secondary Insurance to Medicare, call the number above, or fill out the compare rates form we offer to get started.
If you have any questions or concerns, contact us immediately, and we’ll provide you with the information you need to make decisions about Medicare Supplements.