Medicare Supplement Insurance

Without Medicare Supplement insurance, your out-of-pocket costs could add up to more than $60,424 this year alone.

Medicare Supplement Insurance
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Why You Need Medicare Supplement Insurance

Medicare is a federal program to help older Americans and some disabled Americans pay for the high cost of health care. However, Medicare was never intended to cover all your health care costs. So even if you’re covered by Medicare, you are still responsible for a large portion of your health care costs. Without Medicare Supplement insurance, your out-of-pocket costs could add up to more than $60,424 this year alone.

What Medicare Doesn’t Cover

Medicare does not cover all health care costs. Medicare coverage consists of Part A (which covers hospital and skilled nursing facility care), and Part B (which covers doctor bills and other medical expenses).

Even with Medicare Part A and Part B coverage, you’re responsible for some out-of-pocket expenses including:

  • Part A hospital deductible ($1,632)
  • Part B deductible ($240)
  • Copayments for hospital stays over 60 days
  • Care in a skilled nursing facility after 20 days
  • Twenty percent coinsurance for doctor bills and other medical expenses

By law, Medicare Supplement insurance is standardized into twelve plans (Plans A through L). That means Plan F from one company must include the same benefits as plan F from another company. While the benefits must be the same, each company’s rates, reputation, membership features and quality of service can vary.

Medicare Supplement Insurance

BlueCross BlueShield of Illinois

With Blue Cross and Blue Shield of Illinois, you don’t have to sacrifice comprehensive benefits or freedom-of-choice for affordability. Their Medicare Supplement plans provide substantial benefits at rates that can save you money over other plans.

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Medicare Supplement Insurance

Mutual of Omaha

Mutual of Omaha Medicare Supplement Plans are highly popular in Illinois and usually have the lowest rates. They take an attained-age rating approach to pricing their Medicare supplements and have lower rates for non-tobacco users.

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