Medicare Supplement Insurance Plans
Complete the form below to receive rates via email or call us at 800-600-9663
With medical rates rising and benefits shrinking, you need a "medigap" supplemental policy to pay the medical bills that Medicare will not pay. Although Medicare pays some of your doctor and hospital bills, it was never meant to cover all of them. If you rely on Medicare to pay all your bills, your out-of-pocket expenses could be a financial disaster for both you and your family should hospitalization be necessary.
Medicare's deductibles and co-payments - the costs you must pay - are higher than ever before. The fact is, a one day stay in the hospital can cost you almost $1,000.00 before Medicare will begin to pay, and an extended stay could cost you an unlimited amount.
The following is a listing of the Medicare premium, deductible, and coinsurance rates that will be in effect in 2007:
Medicare Premiums for 2007
- Part A: (Hospital Insurance) Premium
- Most people do not pay a monthly Part A premium because they or a spouse have 40 or more quarters of Medicare-covered employment.
- The Part A premium is $226.00 for people having 30-39 quarters of Medicare-covered employment.
- The Part A premium is $410.00 per month for people who are not otherwise eligible for premium-free hospital insurance and have less than 30 quarters of Medicare-covered employment.
- Part B: (Medical Insurance) Premium
- $93.50 per month minimum (sliding scaled based on income).
Medicare Deductible and Coinsurance Amounts for 2007
- Part A
- Pays for inpatient hospital, skilled nursing facility, and some home health care. For each benefit period Medicare pays all covered costs except the Medicare Part A deductible (2007 = $992) during the first 60 days and coinsurance amounts for hospital stays that last beyond 60 days and no more than 150 days.
- For each benefit period you pay
- A total of $992 for a hospital stay of 1-60 days.
- $248 per day for days 61-90 of a hospital stay.
- $496 per day for days 91-150 of a hospital stay (Lifetime Reserve Days).
- All costs for each day beyond 150 days
- Skilled Nursing Facility Coinsurance
- $124.00 per day for days 21 through 100 each benefit period.
- Part B:
- Covers Medicare eligible physician services, outpatient hospital services, certain home health services, durable medical equipment.
- $131.00 per year. (Note: You pay 20% of the Medicare-approved amount for services after you meet the $131.00 deductible.)
Additional information about Medicare premiums, deductibles, and coinsurance rates is available on the www.cms.gov web site. And if you'll click here you'll find a government-sponsored web page that will let you see exactly what you'll have to pay, what Medicare will actually pay, and much more.
As you can see, Medicare requires you to pay a great deal when you need hospitalization. This gap in coverage could cause financial difficulties for both you and your family. Medicare supplement policies cover most of these expenses for you.
Lehrman Group and/or an associate of Lehrman Group holds insurance licenses in the following states: Alabama, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, Florida, Georgia, Illinois, Indiana, Kansas, Kentucky, Louisiana, Michigan, Missouri, Nevada, New Hampshire, New Mexico, New York, North Carolina, Ohio, Oklahoma, Pennsylvania, South Carolina, Tennessee, Texas, Utah, Virginia and West Virginia. Parties requesting rates from one of the states where Lehrman Group (or an associate of Lehrman Group) is not licensed will be contacted by a local agent or broker who is licensed by the Insurance Commissioner in that state.
