Medicare
Pioneer Insurance of Hickory is happy to offer North Carolina residents the Medicare gap insurance they need.
What is Medicare?
Medicare is a government-run health insurance program for people aged 65 and older, people with specific disabilities, and those eligible for Social Security disability benefits. It is the primary source of health insurance for most Americans aged 65 and older, and it is the largest single payer of health care costs in the United States.
While anybody over 65 can join Medicare, the program does not cover all health care costs.
What Medicare Does Not Cover:
- Copayments, deductibles, or coinsurance
- Emergency foreign travel expenses
- Blood transfusions
- Some extended-stay hospital costs
The Medigap program is for those who want coverage for the above expenses.
What is Medigap?
The Medigap program is a supplemental insurance program for Medicare. It provides insurance coverage for out-of-pocket expenses. Medigap is offered by private insurance companies and is not part of Medicare. However, only current Medicare beneficiaries can purchase Medigap.
The percentage of covered costs depends on the type of plan you purchase. Medigap plans are divided into categories referred to by letters A through N. Each class is designed to fit an individual's health care needs more efficiently. (For example, you may not need coverage for foreign emergency travel.)
Note: Not every insurance company will offer all Medigap plans. However, they are required only to offer plans that the federal government mandates to include specific benefits. They can offer these policies at differing premiums.
Medicare Information Specific to North Carolina:
As of 2020, people under 65 but legally disabled must be eligible to purchase a Medigap plan if that plan is A, B, or G.
Other Things To Know:
- You must be enrolled in Medicare Part A and B.
- Medigap coverage only covers a single person, regardless of marital status.
- The Open Enrollment Period for a Medigap plan is the first six months after you turn 65 and are enrolled in Medicare Part B.
If you're interested in learning more about Medicare and Medigap plans, contact Pioneer Insurance of Hickory today.
