Products

Government Medicare Part A and Part B Programs

Health insurance is one of the many things people must consider as they approach retirement and ease into the Senior Market. Fortunately, there is a health insurance program administered by the Government known as Medicare that was designed to protect these individuals.

Medicare Supplement insurance protects you from medical and related expenses not covered by the Federal Medicare program. Medicare doesn’t cover everything so, if you incur expenses that are not covered, you will have to pay for these services yourself unless you have a Medicare Supplement Health Plan that covers these services. There are ten (10) different Plans in most states, each is named with a different letter. Premiums vary between different plan options because they offer varying levels of protection.

You have a choice of plans to meet your needs and budget, now and in your future. Our insurance agents can help you chose the best combination of benefits for your financial and physical well-being. Before you make your choice, you need to know what the government offers under the terms of the Medicare Program.

What does the Government Medicare Program - Part A cover?

The Federal Medicare Program Part A generally covers in-patient hospital care, skilled nursing facility care, medically necessary Nursing Home care, hospice care and home health services.

Even when Medicare pays the cost of a service or item, you generally have your own portion to pay in the form of deductibles, coinsurance and co-payments.

What does the Government Medicare Program - Part B cover?

The Federal Medicare Program Part B covers two types of services:

Medically necessary services which are needed to diagnose or treat your medical condition and must meet acceptable standards of medical practice and preventive services which are intended to prevent illnesses like the flu and detect serious conditions at an early stage when treatment has the best chance of success. When you’re covered by Medicare, you pay nothing for most preventive services rendered by a Medicare approved health care provider.

Medicare Part B covers health care costs like: ambulance services, durable medical equipment, outpatient care, second surgical opinions and many others.

IAC Products

Individual Assurance Company, Life, Health and Accident (IAC) offers a variety of Medicare Supplement Plans to help cover your out-of-pocket medical costs. These include Supplemental Coverage Plans A, F, G and N. Plan A is the basic coverage offered by IAC. Plans F, G and N provide additional benefits beyond the basic coverage. These policies help pay for items that Medicare may not cover, such as hospital and medical co-insurance, extended hospital care, physician’s services, outpatient services and supplies, ambulance service and, of course, the Medicare deductibles.

IAC Medicare Supplement Policies guarantee that the benefits and payment schedules of the issued Policy will automatically change to reflect any changes in deductibles, copayments or coinsurance amounts required to pay under Medicare. The coverage automatically provides for such changes to whatever extent necessary. However, the premiums may be modified to correspond with these changes.

What does the IAC Medicare Supplement Insurance Policy – Plan A cover?

The IAC Plan A policy covers Medicare Eligible Expenses for hospitalization to the extent not covered by Medicare from the sixty-first (61st) day through the ninetieth (90th) day and for the Medicare Lifetime Reserve Days (60). Upon exhaustion of Medicare Hospital inpatient coverage, the Plan will pay 100% of Medicare Part A Eligible Expenses up to a lifetime benefit of an additional three hundred sixty-five (365). It also covers the reasonable costs of the first three (3) pints of blood, the co-insurance amount for outpatient services and the copayment amount of Medicare Eligible Expenses under Part B, subject to the deductible.

What does the IAC Medicare Supplement Insurance Policy – Plan F cover?

Plan F is the most comprehensive and most popular option available today. It is generally known as the high-deductible Plan but it has the most coverage. The IAC Plan F policy basically covers the gaps in your Medicare payments.

The IAC Plan F policy covers Medicare Parts A and B co-insurance, hospital costs, first three pints of blood, Part A Hospice Care co-insurance or co-payments, co-insurance for skilled nursing facility, Medicare Parts A and B deductibles, Part B excess charges and foreign travel emergency.

One of the most significant benefits available is overseas coverage. If you intend to travel out of the country, it’s essential that you have some insurance in case of an emergency. The IAC Plan F will provide coverage to the extent not covered by Medicare.

What does the IAC Medicare Supplement Insurance Policy – Plan G cover?

This high-coverage Supplemental Plan maybe ideal for the consumer who is worried about potentially large health care costs. Plan G provides exact coverage as Plan F, but without the high out-of-pocket expense necessary to trigger certain benefits.

Plan F and Plan G are the only Medicare Supplement products that cover Medicare Part B excess charges. This excess charge is the difference between what a medical provider charges and the amount that Medicare will pay.

What does the Government Medicare Program - Part N cover?

In addition to the basic core benefits as provided under the terms of Plan F, Plan N includes coverage for all Medicare Part A initial deductibles, additional benefits for Skilled Nursing Facility Care and emergency care in a foreign country.