Medicare Supplement

Medicare Supplement Plans

Medicare Supplement Plans, also known as Medigap, offer coverage for the out-of-pocket costs that are not covered by Original Medicare such as deductibles and copayments.

With a supplement plan, Medicare will cover its portion of the charges first, then your Medicare supplement benefits will cover the remaining allowed expenses. To qualify for a supplement, you must first be enrolled in Medicare Part A and B.

There are 10 Medicare Supplement plans: A, B, C, D, F, G, K, L, M, and N. Each offers its own type of coverage, so consider Medigap as an additional benefit that helps you save significantly.

You do not qualify for a Medicare Supplement plan if you already have Medicaid or a Medicare Advantage Plan.

Benefits of Medicare Supplement Plans

Although all Supplement plans offer different coverage and benefits, there are certain benefits that are common to all of them. These benefits include:

• Coinsurance costs of Medicare Part A
• Hospice care coinsurance and copayments of Medicare Part A
• Coinsurance or copayments of Medicare Part B
• First three pints of blood used for transfusions

In addition to these main benefits, you can elect to add more benefits to your Medicare plan, which could increase the cost. But you will still be able to save a considerable amount of money as you won’t have to cover these costs out-of-pocket like you would with just Original Medicare coverage.

Read our blog, 3 Reasons to Review Your Medicare Supplement Plan to learn about the main reasons to review your plan annually during your birthday month and during the annual enrollment period.

It’s a great idea to review your needs and budget with a Bancorp Insurance Agent who can help you select the right plan with the benefits you desire and possible find one that can save you money. There are many options available in various counties and states. Don’t go about choosing blindly, you will be stuck with that plan for an entire year. We can help you make an informed decision.

Appointments are available at no charge or obligation to enroll, click the link below to request a virtual, in-person or telephone appointment or give us a call at (800) 452-6826.

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Victoria Skinner

November 2, 2023.

Amy is amazing! She helps us navigate through insurance confusion. I will be seeing her again when the time comes.

Dennis Ramey

November 2, 2023.

Amy is always a pleasure to work with. She keeps us well informed on our policies. She has been very helpful in the past. We appreciate all the help Bancorp has provided over the years.

Don Drumhiller

November 1, 2023.

Gretta is fantastic. She will always take the time to explore options to find the best value for you. We recently explored upgrading our vehicle and homeowner policies. Gretta gave us all the options and allowed us time to process the information and make an informed decision as to what was best for us. Thank you Gretta, we look forward to working with you for many years to come.

Mark Gage

October 31, 2023.

You've probably heard the phrase, "It doesn't take a rocket scientist!" Well I was a rocket scientist, and when I recently approached Medicare eligibility, I found the choices of Parts, Plans, Supplements, and Advantages very confusing. I attended webinars, explored SSA tutorials, and read the many direct mailings that I presume every person approaching 65 will receive from insurers. One ninety minute session with Jenifer Ward of Bancorp Insurance helped me more than anything else. She patiently answered all my questions, presented clear alternatives, reviewed my applications, and helped me navigate the confounding process of Medicare enrollment. Now I believe that I am on a solid path for health care for the rest of my life. That's big.

Allen Stark

October 30, 2023.

Great insurance company to work with. Amy is very knowledgeable in health insurance.

Cindy Aaron

October 27, 2023.

Mike Turpin was extremely helpful! Very personable and quick to respond to my questions.

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October 27, 2023.

thats the only place I would or do go. from cars to medicare supplements they have great prices,product and service been sending my friends and they been lovin it the top of the heap

Tara Pearson

October 23, 2023.

We had the pleasure of working with Mike in the La Pine office and he was great. Found us a great deal, saving us a ton of money from our current policy. We were referred by a family member and we will absolutely refer.

Kristine Thomas

October 20, 2023.

I appreciate Mike's knowledge and professionalism when helping me find a better rate for my car insurance.

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